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Wen Jiabao

Premier of China between 2003 and 2013, Wen Jiabao served as vice-premier between 1998 and 2002. Wen, who was born in 1942, spent 14 years working in Gansu province’s geological bureau before being promoted in 1982 to vice-minister of geology and mineral resources. Wen graduated from the Beijing Institute of Geology in 1968 and has a master’s degree in geology. He was a member of the Politburo Standing Committee between 2002 and 2012. 

 

NewsChina

Beijing denounces NYT report on Wen family wealth

Family of Wen Jiabao owns hidden fortune, New York Times report says

PUBLISHED : Friday, 26 October, 2012, 9:53am
UPDATED : Monday, 29 October, 2012, 2:19pm
 

China’s Foreign Ministry hit out at a New York Times report on Friday which claimed that Premier Wen Jiabao’s family had amassed massive wealth during his term in office.

“Some reports smear China and have ulterior motives,” Foreign Ministry spokesman Hong Lei said in response to a question about the report, which said that Wen’s family controlled assets worth US$2.7 billion dollars from 1992 until this year.

The New York Times said on Thursday in a report that the relatives of China’s prime minister have controlled assets worth at least US$2.7 billion, in a move likely to further embarrass the Communist Party ahead of its power handover.

The family of Wen Jiabao, who will be replaced in a once-in-a-decade leadership transition next month, have become “extraordinarily wealthy” during his term in office, the newspaper alleged.

Their investments span banks, jewellers, tourist resorts, telecommunications companies and infrastructure projects, with the owners of the assets often concealed by using offshore vehicles or complicated holding structures.

The investigation, based on corporate and regulatory records from 1992 to this year, compiled alleged dealings by Wen’s son, daughter, younger brother and brother-in-law, as well as his mother.

It gave no figure for the family’s net worth, but calculated the value of the assets they controlled over this period.

The lead up to the Communist Party’s 18th congress starting on November 8, when successors to Wen and President Hu Jintao will be revealed, has already been tarnished by the case of rising star Bo Xilai.

The party boss from the huge southwestern city of Chongqing was expelled and will go on trial over corruption accusations and alleged crimes linked to the murder of a British businessman, for which his wife has been convicted.

In June, Bloomberg news agency investigated the business interests owned by the relatives of Xi Jinping, the man tipped to be the next Chinese president. The investigation alleges that Xi's relatives have also built up a giant portfolio of investments in property and stocks.

Video by the New York Times

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Remitting Prosperity
Hello Captam, how's things?
So let's see... whom do we believe? An internationally renowned independent newspaper or the Chinese Communist Party which openly admits that the media are there to 'serve socialism'? Hmmm, tricky. And before you go on about the 'free media being tools of the rich etc', bear in mind that it was another newspaper, the Washington Post, that brought down a president, Richard Nixon.
As for American politicians being rich, yes many of them are. But here's the thing, they made their money BEFORE they went into politics, not from bribes when in office. Mitt Romney made his in business and Barack Obama as a writer. Added to which, the president of the USA has to make his or her income tax returns public every year. What do you say to Chinese officials having to do that?
Everyone knows that Chinese politicians fill their boots with bribes. Occasionally one of them gets executed if he pushes it a bit, like Xu Maoyong of Hanzhou who swiped some 200m Yuan, but if you are high up enough you can get away with it.
doctorh
Not to be a stickler but do examine the facts yourself and not because it was reported by a "An internationally renowned independent newspaper". Reputation and renown does not equal the truth.
If it is truth, then it is true not because it's a renown newspaper but because the facts stand for themselves.
pgrath1
Look on the bright side - at least Wen's wife hasn't killed anyone
likingming
US$2.7 billion is a very very small amount of money. It is just one-sixth of the cost of the third airport runway in HK. Mr Wen could get much much more money, on table and under the table, if he could come to HK.
ianson
The only surprise would be proof that a Communist Party leader was NOT corrupt. The billions of illicit cash sloshing into the Party's leadership are its lifeblood. They're just the cosa nostra better organised and on a larger scale. Take solace in the fact that the bigger they come, the harder ...
qiaohan
" wild and unsubstantiated allegations"? You obviously haven't read this 7 page article which goes into great detail with graphs, corporate charts, numbers, names. If it wasn't true, nytimes.com and Bloomberg wouldn't be blocked and it wouldn't be carried by some of the best news organizations in the world - thestandard.com, SCMP, the UK Guardian, Sydney Morning Herald, etc etc? They are all carrying the story along with the BBC. They gonna get blocked too? Well go ahead, it won't matter anyway because by Monday everybody in China will know.
anson
BBC, UK Guardian... I wonder if any of these publications are ever leant on not to publish articles, widely reported in the world's media, but negative to the British establishment. You seem to have the memory of a fish. Short. Certainly less than 2 months. Let's remember the full title of the BBC. British Broadcasting Corporation, owned by the British Government, controled by a British Government apointee and paid for by British taxpayers and license payers.
qiaohan
which articles are you referring to?
anson
Oh come on. Stop wasting time. Prince Harry, etc.
Sunny
I see the ‘fifty cents party’ is out in force today. If the news is bad, divert people’s attention away by talking about something else like the USA and make the corruption look not so bad.
Corruption is corruption. Truth can only be hidden for so long before people eventually find out.

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