Obituary: Rong Yiren, 89, China’s famed ‘red capitalist’ – David Lague

From the International Herald Tribune:

Rong Yiren, the businessman dubbed a “red capitalist” before tycoons became commonplace in China, died in Beijing on Wednesday at age 89, state media reported Thursday.

In one of the most intriguing personal stories of survival and influence through the tumultuous period when China embraced and then rejected Communism, Rong chose to remain in mainland China after the Cultural Revolution, when most wealthy industrialists chose to flee to Hong Kong or Taiwan.

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