Nationalist vitriol toward China’s richest man sparks worry for business climate
Live MintChinese nationalists have unleashed a wave of online attacks targeting China’s richest man, accusing him of being insufficiently patriotic and denting his business, a reminder of the risks facing entrepreneurs despite Beijing’s efforts to restore confidence among private investors. “Any power the trolls have comes from those who control censorship," said Shan Wei, a research fellow at the National University of Singapore, who has studied the relationship between China’s nationalists online and authorities. Zhong’s troubles online started in late February, with the death of Zong Qinghou, the founder of Nongfu Spring’s chief competitor, Wahaha. Some users pointed to a line in Nongfu Spring’s 2020 initial public offering prospectus noting Zhong’s son is a U.S. citizen, speculating that the company’s assets could be transferred to America after the elder Zhong’s own death.
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