The Stone Group: State Client or Market Pathbreaker?

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Abstract
In mid–June 1989, just a couple of weeks after the Tiananmen protests were brought to a halt, a small unit of Peoples Liberation Army soldiers occupied the headquarters of the Stone Group Corporation, then Chinas premier electronics company. The troops were accompanied by a working group composed of Beijing Municipal Communist Party and government officials, who were sent to investigate charges that Stone employees had participated in the crushed student protest movement. Just days before their arrival, three of Stones senior management, including its President, Wan Runnan, had fled China. Wan was one of 21 black hands named by the Communist leadership as having orchestrated the protests.

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