A Chinese tech entrepreneur just joined the billionaire club thanks to communist-approved capitalism. Thirty-three-year-old Liu Jingkang struck gold as his camera company Insta360 exploded onto China’s stock market, proving socialist systems can fuel private wealth when aligned with state interests.
The company’s shares rocketed 285% on its first trading day, turning Liu into an overnight billionaire. This rags-to-riches story shows how China’s controlled economy lets select entrepreneurs thrive – provided they stay loyal to Beijing’s agenda. The regime gets new tech capabilities while loyal businessmen get rich.
Insta360 dominates the global 360-camera market with spy-grade imaging tech. Its products map landscapes in crystal detail – exactly the kind of surveillance-friendly innovation China’s government loves. State-backed investors poured cash into this offering, ensuring its explosive debut on the Shanghai exchange.
While American startups drown in regulations, China fast-tracks its tech champions. Insta360 skipped years of red tape through special listing rules for “strategic industries.” The CCP isn’t building free markets – they’re building controlled ecosystems where favored companies get rocket fuel.
Xunlei, a Nasdaq-listed Chinese firm, scored a 7.8% stake in this cash cow. Their investment proves even foreign-traded companies know real money flows through Beijing-approved ventures. The communists win whether companies list in Shanghai or New York.
This IPO isn’t about innovation – it’s about power. Insta360’s cameras could easily become Beijing’s eyes worldwide. Meanwhile, American tech firms face congressional witch hunts for much less. China plays chess while we bicker over pronouns.
At 33, Liu represents China’s new aristocratic class – young moguls minted through party connections. His success story will tempt more Western investors to ignore human rights abuses for a slice of China’s “controlled capitalism” miracle.
America needs to wake up. While we coddle activists and over-regulate industries, China’s creating billionaires who strengthen party rule. Real leadership means cutting burdensome regulations so our entrepreneurs can outcompete Beijing’s handpicked champions.
