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Shaolin firm may seek listing

0 CommentsPrint E-mail China Daily, December 17, 2009
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"Abbot Shi Yongxin himself was not even aware of the deal until a few days ago and he knew nothing about the details of the negotiations," Qian Daliang, general manager of Henan Shaolin Temple Development Company, was quoted as saying by the newspaper.

Dubbed the "CEO monk", Shi Yongxin is a controversial figure, allegedly running the religious monastery in a business-oriented style.

Shi, 44, is the first Chinese Buddhist abbot with an MBA degree. He was criticized for allegedly accepting luxury gifts and constructing lavish restrooms worth $430,000 at the temple under his leadership.

Shi had said in an interview in August that the temple needed to realize the commercial value of its cultural heritage to support its development.

"The Shaolin Temple alone cannot support its everyday maintenance, the protection of historical relics and the life of our monks," Shi said. "So, we have to dig deep into the cultural value of the temple and to develop this culture industry."

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