China`s richest man to join communist party CPC

57-year-old Liang Wengen is a construction tycoon who topped Forbes magazine of China`s richest man this year.

Updated: Sep 26, 2011, 20:25 PM IST

Beijing: In winds of change, China`s richest
man is tipped to become the first private entrepreneur to join
the powerful Central Committee of the ruling Communist Party.

57-year-old Liang Wengen, a construction tycoon who
topped Forbes magazine of China`s richest man this year with
an estimated wealth of USD 9.3 billion, may be elevated to
become an alternate member of the powerful central committee,
Peoples` Daily reported.

The Chinese daily quoted by Singapore-based Lianhe Zaobao
newspaper reported that the party had completed its evaluation
of the billionaire who may be inducted into the committee at
the annual conference in October next year.

Liang initially wouldn`t have voting rights, but can be
promoted to a full voting member if an existing member retires
or dies. The gesture is seen as a pat to the Chinese industry
and economy which in recent years has become world`s second
largest.

Most of the Chinese industry is still state-controlled
and the gesture of elevating a private entrepreneur is seen as
the reassurance to the sector.

The step is in line with the former president Jiang
Zemin`s announcement in 2001 that private businessmen would be welcomed to join the party.

Both Liang and Tang Xiuguo, president of Sany, said that
the Organisation Department of the CPC Central Committee had
completed the evaluation of Liang.

Liang founded Sany in 1987 and became a party member in
2004, shortly after his company became listed and his fortune
grew massively. Liang would be the first person from the
private sector to enter the party for the first time since its
founding in 1921.

PTI