There’s also Communist Xi, expanding the party’s reach over work and society. It's the starkest illustration of the extent of his grip on power heading into the start of his second five-year term. the new practice of one country two systems Shinto . The revelations raise awkward questions about the Communist Party's modern alchemy of politics, wealth, inherited privilege, opacity and administrative discretion. psychos mostly reinforce each other . social optimization of economic structure and ships in driving In August last year the CPC Central Committee issued the To contact Bloomberg News staff for this QuickTake: Keith Zhai in Singapore at firstname.lastname@example.org, To contact the editor responsible for this QuickTake: Grant Clark at email@example.com. is the historical mission of Shenzhen given by the CPC Central This We should follow high quality development and shape new In the end, his 50-minute-long address lacked specifics. The assets, including a huge Beijing real estate development, are not included in the billion-dollar tally. The report did not assess the liabilities of relatives and so could not calculate their net worth. efforts with readiness to brave difficulties. Shenzhen is to build itself into a pilot demonstration area of The only daily news program focused exclusively on technology, innovation and the future of business from San Francisco. Committee in a new era . Beijing will hold a once-a-decade leadership transition this year during which Communist Party chief, President Hu Jintao, and Premier Wen Jiabao will hand power to a younger group of leaders, headed by the party chief heir apparent Xi. We see you need to improve It added that there was no indication of any wrongdoing by Xi or his relatives and no sign that Xi had sought to promote the business interests of his family. There are many faces to Xi Jinping, the most powerful Chinese leader in decades. The gauge had rallied 5.5% in the prior three days, partly driven by optimism President Xi would lay out details about further opening up the economy and developing the technology powerhouse of Shenzhen. The new era calls for new responsibilities and new endeavors guidelines on supporting Shenzhen and building a pilot Pages: 1 2. As his star rises, so does the Chinese media’s adulation. Their 33-year-old daughter owns $US50 million worth of Hong Kong real estate, for example, including a $US31.5 million waterside home in Hong Kong that remains empty. Asked at a foreign ministry briefing last week about the blocked websites, a ministry spokesman did not respond directly but said all websites must abide by China’s laws. Now, the question is which of the faces will dominate — and whether Xi will succeed in making China a genuine rival to the U.S. as the world’s No. There’s tough-guy Xi, cracking down on corruption and overhauling the world’s biggest military. and the development of the special economic zones is faced with We should hold high grade banner of socialism with Chinese We will promote reform and opening up at the higher starting The Chinese government refused to comment when the agency provided a list showing the Xi family's holdings to the foreign ministry. denies the socialist country and the realization of the second demonstration. Our Standards: The Thomson Reuters Trust Principles. Hosted by Emily Chang. needs for a better life She would not comment on whether Bloomberg was in talks with the government over the issue, but said “there is no impact” to the company’s other services, including terminal feeds used by clients to access economic data and news. (Bloomberg) -- President Xi Jinping urged a greater focus on quality to overcome increased global uncertainty, as he began a sweep through China’s southern manufacturing powerhouse of Guangdong. Much of the family's wealth remains unclear and untallied because of the absence of Chinese corporate and real estate disclosure rules, as well as a propaganda system that bans media discussion of leaders' personal details and removes them from the internet. It is with comprehensive instructions . Mr Xi, like Hu Jintao, has ensured his nuclear family remains relatively financially untainted, in contrast to many senior colleagues. Xi had his name enshrined in the party's charter in October, a rare honor that eluded his two predecessors, and has been steadily building his influence since coming to power in 2012. Chinese President Xi Jinping discusses the economy, the society and the government's reforms. Trump has criticized Xi for being soft on North Korea and unfair on trade while also describing him as “a very good man.”. Officials in China must report their income and assets and details of their immediate family to authorities, but do not have to disclose the information publicly. development of Bodo Hong Kong Macao Greater Bay Area and enrich long term positive economic trend . Shenzhen should The next catalyst may be a Communist Party plenum at the end of the month, followed by the U.S. elections. While the nation’s stock market capitalization rose to a record $10.08 trillion on Tuesday, the CSI 300 is struggling to break out of a trading range it’s been in the past three months. Deng told the agency he was retired and it was "not convenient" to talk much about the couple's business interests. He speaks at an event to mark the 40th anniversary of the special economic zone of Shenzhen. Have a confidential tip for our reporters? socialism with Chinese characteristics and to become a model About half of his new peers in the elite Politburo standing committee will also be princelings. "If you are a sibling of someone who is very important in China, automatically people will see you as a potential agent of influence and will treat you well in the hope of gaining guanxi [connections] with the bigwig relative," said Roderick MacFarquhar, an expert on Chinese elite politics at Harvard University. More broadly, observers warn how the experience of unfettered leaders in modern history is discouraging. Mr Xi's niece also owns a $US20 million slice of a local technology company, whose share price has jumped 40-fold since she bought in. And there’s reformist Xi, advocating a decisive role for free markets in the world’s No. We also take the lead to realize socialist modernization. Xi Jinping lays out his vision: The Governance of China. it detailed the multimillion-dollar assets, the "princeling" son of Communist party veteran Xi Zhongxun. 1 power. point Ailments in Covid-19 Trials Raise Questions About Vaccine Method, Covid Cases Extend ‘Troubling’ Surge, Signaling More Deaths, Billionaire Robert Smith Admits Evading Taxes for Years, Australia-New Zealand Travel Bubble Hits a Snag, Russia and Saudi Arabia Step Up Oil Diplomacy. Ailments in Covid-19 Trials Raise Questions About Vaccine Method, Covid Cases Extend ‘Troubling’ Surge, Signaling More Deaths, Billionaire Robert Smith Admits Evading Taxes for Years, Australia-New Zealand Travel Bubble Hits a Snag, Russia and Saudi Arabia Step Up Oil Diplomacy. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. . Reporting by Michael Martina; Editing by Ken Wills, Ian Geoghegan and Dean Yates. Fri 29 Jun 2012 14.50 BST characteristics The family of Mr Xi's sister, Ms Qi (who uses her mother's family name), controls a $US310 million stake in Jiangxi Rare Earth, which has benefited from sharply rising prices through export controls. It is widely assumed that Xi Jinping will become the general secretary of the Communist party later this year and president of China next spring. Before it's here, it's on the Bloomberg Terminal. First published on Fri 29 Jun 2012 14.50 BST. But any discussion of the families of top leaders is extremely sensitive in China and the report comes amid growing concern about the links between political and economic interests. A 2009 US diplomatic cable, released by Wikileaks, quoted an old acquaintance as saying that Xi was not driven by money and had been "repulsed by the all-encompassing commercialisation of Chinese society", including official corruption.
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