Story of how coal boss who spent 70 million marrying off daughter got rich: Bought state-owned mine at “price of cabbage”
A majestic wedding made normally low-key Shanxi Liulin’s richest man Xing Libing famous throughout China
March 18th, Liansheng Group Chairman Xing Libing held a large-scale wedding for his daughter in Sanya, even holding a concert, the total sum exceeding 70 million yuan. The extravagance of coal bosses once again shocked the ordinary masses.
Investigations revealed that the source of Xing Libin’s “first pot of gold” [first financial windfall] came from leasing and operating Liulin county Jinjiazhuang rural coal mine, and then obtaining the largest local remaining 1.5 billion ton state-owned enterprise LiuLin County Xingwu coal mine by buying its stock at the “cabbage price” [low price] of 80 million yuan, instantly catapulting him into being Shanxi Liulin’s richest man with current assets exceeding ten billion yuan.
Documents indicate that Liulin Xingwu coal mine geologically had 1,531,230,000 tons of coal, of which 1,402,120,000 tons could be gathered. If calculating by the geological amount, Xing Libin paid just 0.52 yuan per ton. If calculating by the amount that could be gathered, the price Xing Libin paid for every ton of coal was just 0.57 yuan, which can be called a “cabbage price”.
Comments from NetEase:
Must have connections with those lousy government officials, ordinary common people who want to buy wouldn’t be allowed to.
网易浙江省衢州市网友： (responding to above)
The ordinary people are only allowed to buy cabbage!
99% of those who first got rich in this strange country all did so through a system of unfair/unequal distribution.
State-owned property sold for cheap. Coal mines are national resources, how could it fall into individual pockets? Allowing coal bosses to raise coal prices, using price inflation to pass it onto the heads of consumers, this is intolerable!
Give me one reason not to hate the rich.
Without cleaning up the government, everything is bullshit/pointless!
Can I use expletives?
How much blood and sweat of coal miners is contained in this 70 million?
So who sold [the Liulin Xingwu coal mine] to him?