Under what background did Yuan Geng put forward that time is money?

1980 China merchants implemented an incentive system to speed up the construction progress of Shekou Port, which caused a controversy. Inspired by this incident, Yuan Geng, then director of Shekou Management Committee, put forward the slogan "Time is money, efficiency is life" in order to encourage Shekou Industrial Zone to speed up its construction. However, after the slogan was put forward, it immediately caused an uproar and was strongly opposed by some people. Some people even labeled it capitalism, but Yuan Geng pushed his way through the crowd. At the end of 198 1, a giant placard with the words "Time is money, efficiency is life" stood in the most conspicuous place in Shekou Industrial Zone for the first time.