Capturer: The Last 600 Days of Delong

Author: Wang Yunfan
Publisher:
Publish Date: 2006-05-01
Features: A panoramic sketch of the winding journey after the Delong era, independently interpreting the practice and dilemmas of market-oriented restructuring. The "Delong incident" has been a focal point of public opinion since its occurrence, being the largest financial securities case in the history of the PRC. This book is a work of economic, documenting the final 600 days of the Delong Group, telling the story of a super private enterprise plunging towards the abyss, how it struggled to save itself, how it engaged in a game of power with various interest groups, and how it tried to bind the state machine for redemption; an aggressive private enterprise, how it cooperated with a powerful state-owned enterprise to explore China's so-called "market-oriented restructuring," and how it generated friction, disagreements, and disputes; a fast-rising player in the underground financial world, how it grew wildly in the legal loopholes of China's early capital market, and how it plummeted straight into oblivion, becoming a criminal, deeply touching the heavy survival question of China's third-generation private enterprises. Since the macro-control in 2004, the capital chains of some highly leveraged large enterprise groups in China have frequently been in crisis, with Delong, this super private enterprise, being the most prominent case. Over 18 years, it built an image of a captor in both China's financial and industrial circles, thanks to its powerful capital operation capabilities and bold imagination. Unfortunately, the dragon seed of its ideals bore the flea of reality—it ultimately met a fate of being captured. This book aims to tell you: how a super private enterprise plunging towards the abyss struggles to save itself, how it engages in a game of power with various interest groups, and how it tries to bind the state machine for redemption; how an aggressive private enterprise cooperates with a powerful state-owned enterprise to explore China's so-called "market-oriented restructuring," and how it generates friction, disagreements, and disputes; how a fast-rising player in the underground financial world grows wildly in the legal loopholes of China's early capital market, and how it plummets straight into oblivion, becoming a criminal. In the final 600 days of Delong's life, it deeply touched the heavy survival question of China's third-generation private enterprises. Since the macro-control in 2004, the capital chains of some highly leveraged large groups in China have frequently been in crisis, with Delong, this super private enterprise, being the most prominent case. Over 18 years, it built an image of a captor in both China's financial and industrial circles, thanks to its powerful capital operation capabilities and bold imagination. Unfortunately, the dragon seed of its ideals bore the flea of reality—it ultimately met a fate of being captured. This book aims to tell you: how a super private enterprise plunging towards the abyss struggles to save itself, how it engages in a game of power with various interest groups, and how it tries to bind the state machine for redemption; how an aggressive private enterprise cooperates with a powerful state-owned enterprise to explore China's so-called "market-oriented restructuring," and how it generates friction, disagreements, and disputes; how a fast-rising player in the underground financial world grows wildly in the legal loopholes of China's early capital market, and how it plummets straight into oblivion, becoming a criminal. In the final 600 days of Delong's life, it deeply touched the heavy survival question of China's third-generation private enterprises.