Sun Liping, a sociology professor at Tsinghua University, stated that there is an enormous black hole in Chinese society that sucks up wealth. According to Sun, “The crux of the problem is that an enormous black hole has formed in society, and it is sucking up wealth. The black hole absorbs a considerable part of the achievements in social development, leaving a very limited share for the people. Within this limited share, improving one part will hurt another part. There is limited space." How big is the black hole? According to Professor Sun, in 2009 the government raked in, using various means, fiscal revenue of 11,500 bn yuan, about one-third of the GDP.
Source: China Securities Journal reprinted at Soho.com, November 1, 2010