Thirty-seven years ago today, on December 3, 1988 (October 25, 1988 lunar calendar), the first batch of private enterprises in Beijing were granted business licenses. In early December 1988, the first batch of eight private enterprises in Beijing received business licenses at the Dongcheng District Bureau of Industry and Commerce, marking the beginning of the emergence and official recognition of this new economic form in the capital. The "bosses" of these eight private enterprises are all former self-employed large households. Among them, the former Beijing "rock sugar gourd king" Wei Hope has 26 employees, including a professor and two engineers. Zheng Baoling, 50, with a registered capital of 780,000 yuan, is the female owner of the first private foreign-related hotel in Beijing. Among the eight private enterprises are food factories, general merchandise trading companies, and decoration design companies. The youngest private enterprise "boss" was a 20-year-old girl who recruited workers who were all disabled and engaged in decoration design. At that time, there were about 120,000 self-employed households in Beijing. According to relevant regulations, anyone who employs more than 8 workers, has private assets, and is willing to abide by the "Interim Regulations of the People's Republic of China on Private Enterprises" can apply to establish a private enterprise.