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Business Words in the News
Friday 31 August 2001
Vocabulary from the business news. Listen to and read the report then find explanations of difficult words below.

  President Jiang Xemin
China's Communists recruit capitalists
Summary: China's official news agency, Xinhua, has published a list of requirements for private entrepreneurs who want to join the Communist Party. This report from Duncan Hewitt.
The News Listen  
  President Jiang Xemin said two months ago that, if it wanted to survive, the Chinese Communist Party must reflect changes in society. And that meant allowing outstanding business people and private sector workers to join its ranks.

But one traditional Marxist magazine has already been suspended for attacking the policy as a betrayal, and even some mainstream media have suggested it could encourage corruption.

Now the leadership is on the counter-attack. The official Xinhua news agency said the new policy did not mean that the party was simply throwing its door wide open without any principles. It said entrepreneurs who became party members must abide by the laws, treat their employees fairly, and re-invest much of their profits to develop their businesses. In creating wealth, it added, they should not forget to repay society.

The article also emphasized that no one should be admitted to the party simply because of their wealth, fame, or how much money they had donated. These comments seem to reflect the fears of traditionalists that wealthy and well-connected local business people will simply be able to buy party membership and use power to their own advantage.

Duncan Hewitt, BBC News, Shanghai

The Words Listen
  reflect changes in
change in a similar way to

very successful, excellent

  private sector workers
people with jobs in independent companies, not financed or supported by the government

  join its ranks
become members [of the Communist Party]

act of disloyalty

  mainstream media
newspapers, television, radio etc. which publish or broadcast popular opinion or widely held views

  on the counter-attack
retaliating. A counter-attack is an attack on a person who has already attacked you

  throwing its door wide open without any principles
allowing anyone to join [the party] - no matter who they are or what their background

  abide by
keep, obey

people who are well-connected have important or influential relatives or friends

  Read more about this story  

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