Lin himself worked for a state technology institute before he went into business, or as he phrased it, "answered the call of our nation that the reform of science and technology should be our top priority."
While analysts believe that the official nod to allow entrepreneurs into the party solidifies and legitimizes the private sector, it also poses a significant danger.
"The party risks becoming the party of the established wealth, of the upper class, one that is less concerned with social redistribution wealth," said David Zweig, a political analyst at Hong Kong University.
"It helps the economy, but doesn't help welfare."
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