Some of the red bloodlines of Communist China
1 Wen Jiabao is the 6th Prime Minister of the People’s Republic of China. He is the head of government and heads the Chinese cabinet. He is also a member of the Standing Committee of the Politburo of the Communist Party of China. In terms of position, Wen Jiabao ranked 3rd out of 9 members. Wikipedia
Wen Jiabao’s family
Also known as Winston Wen, he is one of the most successful and prominent private equity investors in China, and a highly controversial figure in the Chinese investment community.
The fund he founded in 2005, Cayman Islands-incorporated New Horizon Capital, has raised more than $2.5bn from the likes of Deutsche Bank, JPMorgan Chase, UBS and Temasek, Singapore’s sovereign wealth fund.
New Horizon states that the premier’s son has not served there in any formal capacity since 2010 but people who know him well say he still has a personal involvement and has not divested the large amount of personal wealth he holds in the fund.
Like most princelings, he was educated abroad, earning a masters in engineering materials from the University of Windsor in Canada and an MBA from the Kellogg School of Management at Northwestern University in the US.
He once worked as an engineer for Siemens Canada and as a software engineer for the China Academy of Space Technology. He is chairman of China Satellite Communications, a company forecast by state media to become Asia’s biggest satellite operator by 2015, when it is expected to have 15 satellites in orbit and annual revenues of Rmb16bn.
2 Xi Jinping is the General Secretary of the Communist Party of China, President of the People’s Republic of China, Chairman of the Central Military Commission. He once held the position of Vice President of China, President of the Central Party School and the first member of the Standing Committee of the Politburo, China’s de facto supreme authority. Wikipedia
Xi Jinping’s family
Along with Deng Jiagui, her husband, and Zhang Yannan, their daughter, she owns companies with combined assets of about $400m, as well as an indirect 18 per cent stake in a rare earths company with $1.73bn in assets, according to public records compiled by Bloomberg. These figures do not account for liabilities and so do not represent the family’s total net worth. However, people familiar with the family say their total assets are probably much larger than Bloomberg has been able to uncover.
The family also owns an abandoned luxury villa in Hong Kong worth an estimated $31.5m; at least six other Hong Kong properties with a combined estimated value of $24.1m; and a luxury residential development near Beijing’s financial district, where apartments sell for about Rmb80,000 per square metre. In addition, Mr Deng served as chief representative of a company that won a government contract to help build a $160m bridge in central China.
3 Hu Jintao is the President of the People’s Republic of China. He has held the post since March 15, 2003, replacing Jiang Zemin. Wikipedia
Hu Jintao’s family
Previously president of Nuctech, a state-owned company created in the late 1990s to make large security scanners for shipping, truck containers and railway cars, as well as luggage scanners and metal detectors for airports. After he took over the company it was granted a virtual monopoly on the industry in China and today accounts for about 90 per cent of the Chinese market. In 2008 he became Communist party secretary of Tsinghua Holdings, which controls Nuctech and 20 other companies. In 2009 the Namibian government accused Nuctech of corruption, which the company denied. Nuctech has been accused of unfair competition and corruption in a number of other countries, accusations it has also denied. The younger Mr Hu is no longer working at Tsinghua Holdings, according to people familiar with the matter.
President Hu also has a number of cousins who are involved in business, including in the steel, property and tourism industries. Hu Haiqing, his daughter, is married to Stanford-educated Daniel Mao, the former chief executive of Nasdaq-listed Sina.com, one of China’s largest web portals. Mr Mao’s wealth was estimated in 2003 at $35m-$60m.
Chinese Communist Party
political party, China
With more than 85 million members, the CCP is one of the largest political parties in the world. It is a monolithic, monopolistic party that dominates the political life of China. It is the major policy-making body in China, and it sees that the central, provincial, and local organs of government carry out those policies.
The CCP’s structure is as follows. Once every five years or so, a National Party Congress of some 2,000 delegates (the number varies) meets in plenary session to elect a Central Committee of about 200 full members, which in turn meets at least once annually. The Central Committee elects a Political Bureau (Politburo) of about 20–25 full members; that body is the ruling leadership of the CCP. The Political Bureau’s Standing Committee of about six to nine of its most-authoritative members is the highest echelon of leadership in the CCP and in the country as a whole. In practice, power flows from the top down in the CCP.
The CCP’s Secretariat is responsible for the day-to-day administrative affairs of the CCP. The general secretary of the Secretariat is formally the highest-ranking official of the party. The CCP has a commission for detecting and punishing abuses of office by party members, and it also has a commission by which it retains control over China’s armed forces. The CCP has basic-level party organizations in cities, towns, villages, neighbourhoods, major workplaces, schools, and so on. The main publications of the CCP are the daily newspaper Renmin Ribao (English-language version: People’s Daily) and the biweekly theoretical journal Qiushi (“Seeking Truth”), which replaced the former monthly journal Hongqi (“Red Flag”) in 1988.
This article was most recently revised and updated by Kenneth Pletcher, Senior Editor.