Beijing ( CNN ) -- Liang Wengen , China 's richest man , received the green light to become a candidate for the Communist Party of China 's Central Committee . If elected , Liang will be the first private entrepreneur to join the ruling party 's policymaking body . Liang , 55 , is chairman and founder of Sany Group , China 's largest heavy machinery company . Both Forbes and Hurun China Rich List rank him on top of their 2011 rich list , estimating his wealth at $ 9.3 billion and $ 10.7 billion , respectively . He Zhenlin , Sany Group 's vice president , confirmed with CNN that `` Liang has passed qualification checks '' as a candidate for a seat as alternate member of the Central Committee . Liang is `` waiting for ( formal ) election , '' which will take place late next year . The Central Committee is an important body in China 's top-down political structure . Every five years , delegates to communist party congress elect over 200 full-fledged members and about 150 alternate members . Members of the Central Committee select among themselves members of the party 's political bureau , or politburo , and its standing committee comprised of nine members . The Central Committee typically meets four times a year to discuss and approve major policies . In between these meetings - called Plenums in communist parlance -major decisions are made by the Politburo , headed by party chief and state president Hu Jintao . Its members meet more frequently . Liang became a communist member in 2004 . Since then , he has been a delegate to the National People Congress ( NPC ) , China highest legislative body . He was also a delegate to the last Communist Party Congress in 2007 . Liang has three times applied to become a party member but he was rejected each time . The last time he was rejected was because `` the Party Constitution did n't allow recruiting private entrepreneurs who hire more than seven employees , '' Fu Hongze , a director at the Sany Group , told CNN . Liang 's party membership came after former Chinese president Jiang Zemin pushed through the controversial notion that private business owners may also join the Communist Party in 2001 . `` Currently there are very few party members working in the private sector , '' notes Tang Wenfang , author of the book `` Public Opinion and Political Change in China . '' `` There is a need to correct this imbalance by recruiting non-party private entrepreneurs , as this group of people is gaining economic power . If they are not co-opted , they can potentially wield independent political influence . '' Rupert Hoogewerf , who has served as chief researcher for Hurun Rich list for many years , says Liang 's expected election into the Central Committee is largely symbolic . He points out that the private sector is `` clearly an important player now in the economy as a whole , '' creating new jobs and paying substantial taxes . `` It is a symbiotic relationship , '' he says . `` They help each other out . '' If Liang is elected next year , Hoogewerf adds , his new political status will be a morale boost for China 's private sector and may also benefit his company , the Sany Group. , which Liang founded in 1989 . It will not be the first time for Liang to work with the ruling party . He and his company have been involved in high-profile partnerships with the Chinese government . `` It was n't a coincidence that Sany was in Chile to rescue the trapped miners last year , '' Hoogewerf tells CNN . `` The Chinese government offered to help and Liang was the person asked to make it happen on behalf of the government . It was a big thing . '' Sany provided heavy machinery during the rescue efforts . During the devastating Sichuan earthquake in 2008 , Liang donated 3 million yuan ( US $ 461,000 ) in cash and 15 million yuan ( about $ 2.3 million ) worth of heavy machinery , according to state media reports . Sany 's volunteer rescue team arrived in the worst hit area within two days after the earthquake hit . `` Liang 's increased political capital will help push Sany 's dominance to a higher level in both domestic and international market . '' said Wang Zhengxu at the University of Nottingham . Wang says he will not be surprised if Liang is admitted into the Central Committee . He explains : `` By co-opting private business leaders into CPC , the party hopes to renew its legitimacy as the Party that represents all the critical groups and sectors of the Chinese society . '' Tang says this will be an important move for China 's political reform . `` In the long run , the inclusion of the private sector in the CPC is likely to diversify the party 's membership , '' Tang says . He explains : `` Different groups of party members may form different factions and compete for power within the CPC , instead of forming strong opposition parties outside the CPC . The result is likely to be the strengthening of 'intra-party democracy ' with continued CPC domination over the other independent political parties . ''
Tang can be a candidate for The Central Committee Communist Party of China 's . The Central Committee is an important body in China 's top-down political structure . Previous applications from China , Liang 's richest man , have been rejected .