China’s Wen Jiabao calls for reforms even as legislature strengthens detention law
Feng Li/Getty Images – Wen Jiabao, China’s premier, said Wednesday that unspecified reforms should occur along with growing economic clout. – by Keith B. Richburg,
BEIJING — In a major shakeup in the Communist Party’s top ranks, Bo Xilai, a charismatic but controversial official known for promoting a “red revival” campaign, has been fired as party chief in the city of Chongqing, the official Xinhua news agency reported Thursday.
The report came one day after Prime Minister Wen Jiabao publicly rebuked Bo for a scandal in which Chongqing’s former police chief sought refuge for 24 hours at the U.S. consulate in Chengdu. Before then, Bo was widely tipped to be in line for a promotion to China’s most powerful body, the Politburo Standing Committee, in a leadership change due this fall.
The United States and China have had a tangled relationship, full of highs and lows.
Wen spoke Wednesday at what was likely his last major news conference as premier, at the end of the annual meeting of China’s legislature, the National People’s Congress.
The 10-day session closed with the legislature giving overwhelming approval to changes in the country’s criminal code that will allow police to legally hold government critics for six months in secret detention centers.
But Wen focused his remarks on the need for more political openness in China — a process he said should occur gradually, but must not be reversed.
“Without successful political reform, it is impossible for us to fully implement economic reform, and the gains we’ve made in these areas may be lost,” he said. “Even with a single breath left, I am ready to dedicate myself fully to the cause of China’s reform.”
In his 45 years holding various government jobs, Wen said, “I have never pursued personal gain. . . . Ultimately, history will have the final say.” Wen’s has often been a lonely voice in the ruling Communist Party hierarchy arguing for political reform. Without such reform, he added, “such historic tragedies like the Cultural Revolution may happen again.”
The chaos and violence of Mao Zedong’s Cultural Revolution, from 1966 to 1976, is still considered a politically sensitive part of China’s recent history. That history has sometimes been invoked by hard-liners to justify stern measures of control, but Wen on Wednesday took the opposite tack, saying the Mao-era violence perpetrated by the Gang of Four — four top Communist Party officials, including Mao’s wife and her close associates — was a reason for more political opening, not less.
‘Red revival campaign’
Wen’s warnings about the Cultural Revolution appeared to be a slap at Bo, who had been considered a leading candidate for a slot on China’s all-powerful nine-member ruling Politburo Standing Committee in a leadership shuffle later this year.
Bo has instituted a “red revival campaign” in Chongqing that includes organizing pageants of Mao-era songs, dispatching students and bureaucrats to toil in the countryside, and ordering local television stations to broadcast red-themed patriotic programs.
Wen made specific reference to Chongqing during the news conference, saying authorities there needed to “seriously reflect” on a scandal involving a senior ex-police official who sought refuge at the U.S. consulate in Chengdu and is now being held and investigated in Beijing.
China’s Wen Jiabao calls for reforms even as legislature strengthens detention law
Feng Li/Getty Images – Wen Jiabao, China’s premier, said Wednesday that unspecified reforms should occur along with growing economic clout.
That Feb. 6 incident involved Wang Lijun, the deputy mayor and former police chief responsible for a sweeping crime crackdown in Chongqing. Bo was Wang’s boss. Wang’s flight — and the 24 hours he spent holed up in the U.S. consulate — is believed to have tarnished Bo’s image. On Wednesday, the premier strongly suggested that Bo held some blame for Wang’s actions.
“The central authorities have taken this matter very seriously,” Wen said.
The United States and China have had a tangled relationship, full of highs and lows.
Xinhua said that Bo is being replaced by a vice premier, Zhang Dejiang, who will also take Bo’s position on the local Chongqing Party Communist branch and its standing committee.
The report made no mention of whether Bo also lost his position on the party central committee and Politburo in Beijing.
In his remarks, Wen made clear that his definition of “political reform” does not necessarily mean allowing Chinese to vote freely any time soon.
Asked when Chinese might enjoy the same rights as people in other countries to vote in competitive elections, Wen repeated his familiar formulation that democracy must come to China “gradually,” with elections first for village offices, then townships.
He made no mention of a specific timetable, or when elections would be allowed — if ever — at the national level. But he said the move to more democracy in China was inevitable, and “no force will be able to hold this back.”
During his nine years as premier, Wen’s views frequently went unheard by the Chinese people because his remarks on politics were censored or heavily edited here at home.
Detentions and disappearances
Meanwhile, China’s legislature finalized the criminal code changes that makes it legal for police to hold dissidents for six months at a time in the secret detention centers — known as “black jails.” Detentions and disappearances are a common police practice here and have been used regularly against government critics such as the world-renowned artist Ai Weiwei.
The changes essentially give the police the legal power to continue holding people for months without formal charges when they are accused of threatening “state security,” a catch-all term used to snare anyone advocating more democracy or an end to Communist Party rule.
But the legislation says people accused of ordinary crimes cannot be held indefinitely, and families of all detainees must be notified within 24 hours.
The code change was passed by 2,639 of the roughly 3,000 delegates. They voted after several weeks of an unusually public campaign against the law, waged by lawyers, human rights activists and some academics who said it gave the police far too much power.
In the end, the delegates — who are often accused of merely rubber-stamping government proposals — ignored the public protest and voted for the change.
“I’m not surprised at all — not a single draft law has ever been rejected in the history of NPC,” said Liu Xiaoyuan, a Beijing-based lawyer who has defended Ai Weiwei.
The new law, Liu said, “will bring fear to Chinese citizens. Anyone can disappear simply by saying something that someone doesn’t like on the Internet. Power will be more abused.”
“It is an evil law,” said Mo Shaoping, a human rights lawyer in Beijing whose firm represents Nobel Peace Prize laureate Liu Xiaobo. “It’s a type of enforced disappearance which is against international conventions.”
Researchers Liu Liu and Zhang Jie contributed to this report.
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Do look at Articles below for a potential double standard, but seeing as Premier Wen is retiring, there should be no issue hereon (especially if Wen shares his wealth to a point of being a 20 million worth plutocrat??? Many starving comrades in China . . . ) Lets see how this election’s transition unfolds.
China’s Bo Signals Wealth Gap Breached Unrest Trigger Point
By Bloomberg News – Fri Mar 09 09:01:56 GMT 2012
Enlarge image Bo Xilai
China’s wealth gap has exceeded the point that triggers social unrest, according to figures revealed by Politburo member Bo Xilai, in a rare disclosure of the country’s income disparity. Photographer: Natalie Behring/Bloomberg
China’s wealth gap has exceeded the point that triggers social unrest, according to figures revealed by Politburo member Bo Xilai, in a rare disclosure of the country’s income disparity.
China’s Gini coefficient, an index of the income gap, has exceeded 0.46, Bo, the Communist Party Secretary for Chongqing Municipality, told reporters in Beijing today, without giving specifics. The index ranges from 0 to 1 and the 0.4 mark is used as a predictor by analysts for social disturbances.
The meeting where Bo spoke, held during the annual National People’s Congress in Beijing, highlighted Chongqing’s efforts to reduce the urban-rural income gap during the past five years, encompassing Bo’s tenure. Bo, 62, has reintroduced slogans and songs from the late Chairman Mao Zedong in a bid to re-instill a Communist spirit in a country that still officially adheres to the principles espoused by Karl Marx.
“As Chairman Mao said as he was building the nation, the goal of our building a socialist society is to make sure everyone has a job to do and food to eat, that everybody is wealthy together,” Bo said. “If only a few people are rich, then we’ll slide into capitalism. We’ve failed. If a new capitalist class is created then we’ll really have turned onto a wrong road.”
In a speech later in the day attended by Bo, Wu Bangguo, head of the NPC, said China in the next year would adjust the income tax system to “give a bigger role to taxation in adjusting income distribution.”
On Monday, Guangdong Communist Party Secretary Wang Yang, like Bo a candidate for the Politburo Standing Committee, told reporters at the National People’s Congress that reform needs to “represent the interests of the people.”
He said the region would learn from protests in the village of Wukan, where demonstrators kicked out local party leaders over illegal land grabs and were later permitted to hold elections. Bo declined to comment today when asked about the protests in Wukan.
Guangdong Governor Zhu Xiaodan said today the government put the “highest priority” on the lessons it learned from Wukan and said the region was looking to crack down on official corruption and improve citizen-led supervision.
The World Bank’s data for China’s Gini coefficient goes up to 2005 and the country doesn’t regularly publish a nationwide figure. The country hasn’t disclosed an urban coefficient because it had too much trouble getting accurate information from high-income urban families, according to Ma Jiantang, the head of the National Bureau of Statistics.
Speaking at today’s briefing, Bo denied as “completely rubbish” reports that his son drives a red Ferrari, and said his son attended Harvard University and Oxford University on scholarships. He also said his wife had quit her law practice and primarily does housework now.
“I am very moved of her sacrifice,” Bo said.
So-called mass incidents in China — strikes, riots and other disturbances — doubled from 2006 to 2010 as China’s wealth gap rose, according to Sun Liping, a professor at Beijing’s Tsinghua University. China’s Gini coefficient has risen from 0.302 in 1978 when the Communist Party began to open the economy to market forces, according to a 2008 report by Chen Jiandong at Southwestern University of Finance and Economics in Sichuan.
China’s Gini coefficient — and hence its wealth gap — has risen more than any other Asian economy in the last two decades, according to Murtaza Syed, the International Monetary Fund’s resident representative in Beijing, citing World Bank data. Syed told reporters in Beijing last month that the high wealth gap may hurt China’s long-term growth prospects.
“If China becomes more and more unequal, it may find it very hard to keep growing at anywhere near the rates it’s been growing,” Syed said on Feb. 22.
China will carry out a comprehensive survey of urban and rural salaries that may help better gauge its income gap, the China Daily reported Feb. 7, citing Xie Hongguang, a deputy head of the statistics bureau.
Inaccurate information and fragmented efforts in the past have hindered government attempts to produce a nationwide Gini coefficient, Ma told reporters Jan. 17.
A Gini level of 1 is perfect inequality, with one person holding all the wealth, and a level of zero is perfect equality.
To contact Bloomberg News staff for this story: John Liu in Beijing at +86-10-6649-7565 or email@example.com
To contact Bloomberg News staff for this story: John Liu in Beijing at firstname.lastname@example.org; Michael Forsythe in Beijing at email@example.com
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Looks like Bo is one of the good guys, though too close to the West for comfort.
Are China’s politicians the richest in the world ctd. – by Bradley Gardner on March 1, 2012
One addendum to yesterday’s post on the wealth of Chinese politicians.
Relatives of high level politicians often become quite wealthy. Which is a much more interesting story, but the sort of thing that the Hurun report cannot publish without compromising Rupert Hoogewerf’s visa. Wen Jiabao’s wife is one of the country’s largest diamond importers, and his son runs a private equity company. Hu Jintao’s son was the founder of a security company, which produces the x-ray machines used in Chinese airports, subways and train stations.
Which really isn’t significantly different from what goes on in America. Its just that in China you’re not allowed to publish information about it. In the words of one Chinese businessman I spoke to “people with connections do better in business, its the same everywhere.”
Zhang Peili (simplified Chinese: 张培莉; traditional Chinese: 張培莉; born 1941) is a Chinese geologist and the wife of Chinese Premier Wen Jiabao.
Peili was formerly the Vice-President of the Chinese Jewelry Association, and President and CEO of Beijing Diamond Jewelries Co., a company which has operations in both the mainland and Hong Kong.
Zhang met Wen when he was working in Jiuquan as part of Gansu’s Bureau of Geology. Being described as a strong-willed woman, her personality is in strict contrast to that of her husband, who is fairly introverted and modest. Zhang is never seen on any official occasions with the Premier. In 2007 Taiwan’s TVBS found Zhang to be wearing a bracelet worth over two million RMB (around $300,000US) at a jewelry convention.
According to a U.S. diplomatic cable posted in Wikileaks, Wen has sought to divorce Zhang and is “disgusted” by how she has used his name to extract huge commissions in the diamond trade..
Zhang and Wen have a son and a daughter, Wen Yunsong and Wen Ruchun.
Author: Financial Times
Recently, China’s “princelings” has become a “Little Red Guards” in the financial industry.
China’s emerging private equity investment fund industry, New Horizon Capital (New Horizon Capital) is one of the most influential and most successful. Billions of dollars in company funds managed by its stable of investors including Deutsche Bank, JP Morgan Chase, UBS, and Singapore’s sovereign wealth fund Temasek. But look at its Beijing headquarters, and you never guess.
This company in the lobby of the Campbell Building (Golden Treasure Tower), no signage, the building, but is close to the former imperial center – Forbidden City – an ordinary building. Only saw a few small text on the door: New Horizon Growth Investment Advisory Limited, we can only confirm this is the simple office of the company is located in Building 12 layers.
This company does not need luxury suites, because it has China’s most valuable asset. This is Wenyun Song (Winston Wen), the Business School of Northwestern University Kellogg (Kellogg) MBA, low-key man looks Kuxiao his father, Prime Minister Wen Jiabao of the People’s Republic of China.
Young Wenyun Song Mr. and New Horizon Capital is a more powerful princelings “Little Red Guards”. The princelings dominated in the rise of China’s domestic private equity fund industry, restructuring state assets and to provide financing for private companies to reap huge profits.
According to Thomson – Reuters statistics, the Chinese private equity transactions in 2009 reached $ 3.6 billion, accounting for one-third of the Asia-Pacific region. But industry sources said the market potential is much larger than this data.
, According to industry personnel, and the princeling dominance, exclusion, including foreign firms, however hard the company. This situation will have serious consequences, for two reasons. First, private equity funds in the process of economic modernization and lack of capital but there are good prospects for the company to provide financing channels play an important role, but only in this industry run professional and competitive manner, the parties in order to benefit the striking .
Second, some of those in power to worry about, and the princeling’s dominant position in the private equity fund will give the public more deterioration in China’s high-level nepotism aspect, power disorderly image. So opaque authoritarian system, the lack of legitimacy of a democratic society in the mass basis, this concern is difficult to disperse. The Communist Party’s official mouthpiece People’s Daily recently in an online opinion poll, 91 percent of respondents believe that all the rich families have political background.
Accept the newspaper interview, the the Audit former Auditor-General Li Jinhua said that the officials’ children and relatives of the fast-growing wealth “is most dissatisfied with the masses. Corruption senior officials, in 1998-2008, he won universal respect, and this month he said, “People’s Daily” reporters “from the now revealed many cases can be seen a lot of the problem of corruption through their children by relatives reflected.
Elite children receive education in the West, in the past 15 years, people were Western companies and banks to hire them, which I hope to enter the Chinese market more guarantees, or underwriting state-owned companies can be allowed in New York or Hong Kong-listed project. Many foreign investors know that hiring the relatives of senior officials as consultants or employees that can penetrate the local interest groups, bureaucratic obstacles and resistance.
Today, those institutions and investors scrambled to the private equity fund of investment once its working princelings. “In the past, the best choice of the background to the well-paid Western investment banks, but now the economic strength has changed,” a sensitivity of the topic and asked to remain anonymous people in the industry said, “with those foreigners “Hey, I am entitled to a business in my place, so you give me the money, my own investments, but also accounted for the bulk of Oh.”
Famous princelings of the field of private equity funds, including Lizhen Zhi (George), the former banker who has worked for Merrill Lynch and UBS, the Business School MBA MIT Sloan (Sloan,), its parent Ruihuan from the 1980s to 2003, as China’s senior leadership. According to sources, his son, Jeffrey Li, (Jeffrey) has recently resigned from the position of Novartis in charge of the private equity fund industry.
Industry bankers and private equity investors, said according to media reports and industry insiders said Wilson Feng, is the son-in-law of Wu Bangguo, ranked second within the party post, he left two years ago, Merrill Lynch, set up a state-owned nuclear energy Group associated with the Fund. The project, 2006 Merrill Lynch has been able to underwrite ICBC listed in Hong Kong to become the largest initial public offering (IPO), Wilson Feng, contributed.
Other princelings of the private areas of Tong Li (Li Tong), she was the daughter of one of the nine Politburo Standing Committee, Li Changchun, Li Changchun, in charge of propaganda and the media. According to three sources, Ms. Lee, now in charge of the Hong Kong Bank of China International, a private equity fund, the business concentrated in the media field. Jeffrey Zeng, son of former vice-premier Zeng Peiyan attended Stanford University, has also set up an affiliated fund of the state-owned financial institutions.
“Now is the critical moment of China’s financial industry,” said a Beijing-based director of foreign banks, “but I am very worried about foreigners and other talented people were turned away by the princelings and other useful background , the latter try to lead the private equity market in China. ”
The Government has been encouraging the development of local private industry funds are tightly controlled, but approved the establishment of joint investment needs to get through the numerous government agencies. Invited the relatives of senior leaders to join the management, private equity funds can help overcome these barriers.
A long time, and the princeling has been suspected of using the political capital for private gain, in the last ended in a bloody military crackdown in the Tiananmen Square student protests in 1989, this issue provoked the anger of the people. However, Beijing’s political arena insiders believe the two men for this ambitious generation of open, cultivated a close combination of money and power of the modern prospects.
Are familiar with many foreign investors on the former Premier Zhu Rongji’s son Levin Zhu (Levin, Zhu,) and former President Jiang Zemin’s son Jiang Mianheng, they had worked in a number of large foreign companies, or to cooperate with the establishment of the joint venture. Over the past two decades, their father to help complete the most important market reforms, including China become a WTO member.
Meteorologist Dr. Levin Zhu, University of Wisconsin. After working for some time in New York, Credit Suisse First Boston in the late 1990s, he returned to China, carefully arranged on the CICC is essentially the acquisition, which is a joint venture, Morgan Stanley holds about 34 % of the shares.
Mianheng boasts a Ph.D. in electrical engineering from Drexel University in Philadelphia. The early 1990s, returned to Shanghai, he was in hot pursuit of foreign investors, they found that he was this country’s most valuable joint venture partners. Now, he controls the Shanghai Alliance Investment Ltd., which is the Government Investment Corporation, an operator is very similar to the private equity firm.
Influence their parents to abdicate in 2003, Jiang and Mr Zhu to subside. However, as the children of the “third generation” bureaucratic leaders, they paved the way for today’s princelings, the rise of the road. One and many princelings have dealt with people who evaluate “these two really gave everyone the impression: the red family in governing the country for their own interests and their behavior gave the green light to the young generation of princelings, stimulate their bullion to fill their own pockets, regardless of whether it will give the image of the party leadership to bring and what the consequences. ”
Some analysts and practitioners, crowding out the foreigners and other competitors to monopolize this market by the princelings, management skills or financial discipline, will not bring any benefit to the industry.
“Private right princelings, is a very good field, through a variety of relationships, you can enter the company before the IPO, in a very short period of time to earn a large sum of,” Northwestern University Shizong Han (Victor Shih,) The professor believes that “This is an easy road to money, everyone will support them in their relationships. everyone is happy to do so, potentially favorable terms to the exchange from the senior leadership.”
The princelings person close to the and private sectors, said they often feel they are victims of reverse discrimination, regardless of how they good or hard work, and the public to assume that their success relies purely on nepotism. However, the important area of investment in China, the actual operator that they benefit from the family relationship, but the qualification is also worthy of its rank. Example, Lefei, the Central Propaganda Department Liu Yunshan son, had served as chief investment officer of the state-owned company, China Life, the management of funds of over one trillion yuan. Now he is in charge of state-owned CITIC private equity funds.
“Financial Times” can not communicate with some of the individuals or companies in the article, even if linked to, and they also refused to comment.
Afraid to arouse public resentment and condemnation of nepotism, private life and business dealings of the leadership and their offspring are a fuzzy extensive range of out of the State Secrets Act under the jurisdiction of these bills are often used to quell criticism of the regime. Even the presence of relatives of the current leadership is usually need to be kept strictly confidential. In China, the Internet search princelings and their activities often been shielded.
The majority of of the princelings life in Beijing around the luxury of access guarded community, have a holiday villa in the country and around the world. Their spouses almost never appear in public. Young and not so cautious princelings, open in Beijing, a luxury sports car of the armed forces or armed police license, these licenses allow them to ignore traffic rules, it will not be stopped by the police.
Princelings themselves face a dilemma. If their business is too successful or too high-profile, even if it has not been specific complaints of improper trading or privileged, and political wealth may be detrimental to their powerful fathers.
Some analysts and industry insiders predicted that might happen that the children and grandchildren of those rich and powerful family of private equity investment fund industry to share the economic benefits, the victims of not only foreign investors, and the revolutionary regime. a blood relationship between the “older generation” princelings.
But in Beijing, the power struggle within the party small range may be increased, and the arrival of the 2012 transfer of power of large-scale leadership will exacerbate tensions. Some analysts believe that the private equity activities of more radical younger generation of princelings may be political enemies as weapons to attack their fathers.
Take Wenyun Song, “you have to think about it, if his son is such a powerful position in the financial sector is full of temptation, Wen Jiabao may be of some extortion concessions. If someone wants to Wenyun Song dirt on it?”
– Published in: Financial Times
Site Published Date: Saturday, April 03, 2010
Keywords: Financial Times Health for money Chinese princelings Mianheng Mr Zhu
在中国新兴的私募股权投资基金行业里，新天域资本（New Horizon Capital）是最有影响力和最成功的一家。这家公司管理的资金达数十亿美元，其稳定的投资者包括德意志银行、摩根大通、瑞士银行，以及新加坡的主权财富基金淡马锡。 但是，光看其北京总部，你是万万猜不到这些的。
这家公司在金宝大厦（Golden Treasure Tower）的大堂内没有标识牌，这座大厦不过是靠近昔日的皇权中心－－紫禁城－－的一座普普通通的建筑。只有看到了门上小小的几个中文字：新天域成长投资顾问有限公司，我们方能确认这是该公司位于大厦十二层的简易办公室。
私募股权基金领域名声显赫的太子党包括李振智（George Li），曾在美林和瑞银工作过的前银行家，MIT斯隆（Sloan）商学院的MBA，其父李瑞环从20世纪80年代到2003年担任中国的高级领导。据相关人士透露，他的另一个儿子李振福（Jeffrey Li）最近从诺华制药中国区主管的位置上辞职，进入私募股权基金行业。
业内的银行家和私募基金投资者说，按照媒体报道和业内人士所透露，Wilson Feng 是党内职位排名第二的吴邦国的女婿，他在两年前离开了美林，成立了一家与国有核能集团关联的基金。2006年美林之所以能承销工商银行在香港上市的项目，成为历史上最大的首次公开发行（IPO），Wilson Feng 功不可没。
私募领域的其他太子党包括李彤（Li Tong），她是九大政治局常委之一李长春的女儿，李长春主管宣传和传媒。据三名相关人士透露，李女士现在掌管着香港中银国际的一家私募股权基金，业务也集中于媒体领域。前任副总理曾培炎的儿子Jeffrey Zeng，曾就读斯坦福大学，也设立了一家隶属于国有金融机构的基金。
—— 原载: 金融时报
本站刊登日期： Saturday, April 03, 2010
关键词: 金融时报 生而为钱 中国 太子党 江绵恒 朱云来
Hu Jintao’s son linked to African corruption probe
The eldest son of the Chinese president Hu Jintao faces questioning in connection with a multi-million pound corruption investigation in Namibia.
by Sebastien Berger Southern Africa Correspondent And Malcolm Moore In Shanghai – 5:25PM BST 17 Jul 2009
Three people have been arrested in the country on charges of fraud, corruption and bribery involving a government contract with the state-owned Chinese company Nuctech, a world leader in scanning technology.
Hu Haifeng, 38, was the president of the firm until last year, when he was promoted to being the party secretary of Tsinghua Holdings, the group which controls Nuctech and 30 other companies.
The investigation centres on a £34 million deal Namibia signed with Nuctech to provide it with scanners for its ports and airports.
Under the deal, the Namibian government was to make a £8 million down payment, with the balance coming from a loan Beijing has provided Namibia, on condition that it is spent with Chinese companies.
But according to Namibia’s Anti-Corruption Commission, within weeks of the ministry of finance making its payment to Nuctech, the company signed contracts for an identical sum with a Namibian consultancy called Teko Trading.
The money was allegedly then disbursed to Teko’s co-owners, Teckla Lameck and Kongo Mokaxwa, and Yang Fan, a Chinese national described in court as Nuctech’s African representative.
All three are being held in custody while the investigation continues.
The director of the Anti-Corruption Commission, Paulus Noah, said the matching sums going to and from Nuctech had raised suspicions.
“It’s very strange,” he said. “We are suspecting that corruption might have been involved.”
He said he would like to question Nuctech’s management, including Mr Hu.
“Of course if he can make himself available I will be happy,” he said. “I would like to know how they do business in China.”
He said Mr Hu was not a suspect at this stage and he would be interviewed as a potential witness.
It is potentially a huge embarrassment for Hu Jintao, as popular discontent with Communist Party corruption has grown in recent years – with some officials executed on conviction – but publicised cases have tended to involve local and provincial figures, rather than national ones.
His son usually keeps an extremely low profile, and has been nicknamed the “Teflon princeling” for his ability to keep out of the media.
Nuctech, previously known as Nuclear Technology Company, was spun out of Tsinghua University, the elite university often referred to as China’s MIT which both Hu Jintao and his son attended.
It claims to have world-leading technology for scanning the inside of containers and has 90 per cent of the Chinese market for scanners and x-ray systems. Its machines are also used in British ports and it has held talks with the airports operator BAA, although the company will not confirm whose machines it uses for security reasons.
Hu Haifeng graduated from Tsinghua with a master’s in engineering physics and joined Nuctech directly as assistant to the general manager.
Contacted for comment, a man who answered the telephone at Nuctech’s Hong Kong office said: “There is no need to verify anything, and we are out doing business.”
In its international business division in Beijing a woman who would not give her name would not say if it had a spokesman.
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President Hu has made very strong recommendations in the anti-nepotism law issue and has appeared quite dedicated to China’s well being, now let us see the current crop of plutocrats, surprisingly BOTH Hu and Wen, retire (good thing China has TERM LIMITS) and from here on never be typical of the 24 man Politburo and 9 man top leadership of the CPPCC again. China, remember you are RED! Corruption of the West could well be turned back, but the leadership must not be plutocrats. If Hu and Wen are inclined, do consider donating or setting up philantropic outfits and reserve 20 million USD$ for themselves and impose the same limit of wealth sequestration for plutocrats, (an astounding amount for a Marxist to have I may add) this gesture late as is of now, is better than never to best honour Mao’s perhaps unwritten Socialist limits on Capitalism and wealth sequestration . . . China has always been spartan in bureaucracy’s wealth, when the day this changes, China could probably weaken and begin to fall as the discipline within the politburo is not the discipline across all tiers, especially lower tiers and setting examples is too important . . . the top leaders must be spartan and of the 99% to be believable . . .