Commentary on the East China Bureau’s Report Concerning Shanghai Entrepreneurs Who, Under the Guise of Public–Private Joint Ventures, Were Gouging the Public Sector for Private Gain (February 25, 1952)  All localities are requested to pay close attention and handle similar cases accordingly.[1]  Mao Zedong, February 25. Printed from the manuscript.   Refers to the situation described in the East China Bureau of the CPC Central Committee’s circular of February 24, 1952, concerning bourgeois elements’ embezzlement and fraud within Shanghai’s public–private joint‑venture factories. The circular stated that, during the Three-Anti Campaign, it had been discovered that ten such factories in Shanghai had in fact been transformed into “joint‑public‑for‑private” enterprises. They had completely lost their character as state‑capitalist enterprises under the leadership of the state sector and had become bases for capitalists to appropriate public assets for private enrichment. The circular called upon party committees at all levels, in conjunction with the Three-Anti and Five-Anti Campaigns, to simultaneously defeat the bourgeoisie’s offensive in the area of public–private joint ventures and firmly seize leadership of these enterprises.