IN 1978, DURING THE THIRD PLENUM OF THE ELEVENTH NATIONAL party congress, Deng Xiaoping initiated a new economic policy that was to have dramatic economic and social effects. Turning his back on Mao Zedong egalitarianism (pingjun zhuyi), Deng claimed “poverty is not socialism. Socialism means eliminating poverty.” From then on, people would be allowed to pursue material wealth and endeavor to improve their well-being, even if that meant that some might become richer than others. The new slogan was “Let certain regions, certain enterprises, certain people become rich first”(yibufen diqu, yibufen qiye, yibufen ren xianfuyu qilai). More than a quarter of a century later, rapid economic growth has dramatically improved the material well-being of the Chinese people, but it has also widened the gap between rich and poor—to such a level that it gives rise to spirited debates. 1 Among those who have greatly benefited from economic growth and the transition from a planned to a market economy are private entrepreneurs. Almost nonexistent in Maoist China, private entrepre neurs form today a significant part of the Chinese society. Some observ social research Vol 73: No 1: Spring 2006 219