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Wuhan villagers reap big rewards as shareholders
By Dong Zhen |
August 28, 2012, Tuesday
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Online Edition
Online Edition
A suburban village in Wuhan, capital of Hubei Province, gave each villager a gold bar worth about 36,000 yuan in appreciation of their contribution to the village that owns Yujiatou Group Ltd.
The act of Yujiatou Village created a stir on the Internet. People learned that it spent 34 million yuan to order custom-made gold bars from Shanghai ahead of the village enterprise's 20th anniversary yesterday.
The 1,001 villagers each received a gold bar embossed with their names and will also get cash dividends and new apartments from the village because each adult villager is a shareholder of the company.
They authorized the village committee to use their land to develop commercial and residential properties and they get dividends at the end of each year.
"The real value of the gold bar far exceeds the figure on its price tag. It symbolizes the contribution of each villager in the past 20 years," Zheng Qijun, a village committee director, told the media.
The act of Yujiatou Village created a stir on the Internet. People learned that it spent 34 million yuan to order custom-made gold bars from Shanghai ahead of the village enterprise's 20th anniversary yesterday.
The 1,001 villagers each received a gold bar embossed with their names and will also get cash dividends and new apartments from the village because each adult villager is a shareholder of the company.
They authorized the village committee to use their land to develop commercial and residential properties and they get dividends at the end of each year.
"The real value of the gold bar far exceeds the figure on its price tag. It symbolizes the contribution of each villager in the past 20 years," Zheng Qijun, a village committee director, told the media.
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