Money Matters | Xi Jinping in full control? What an anonymous interview tells you about power struggle in China

Rivals felled, army reformed and the party apparatus bent to the will of one power centre. So you thought President Xi Jinping is in full control? Not so fast.

The recent People’s Daily interview with an unnamed “authoritative person” not only exposes a deep rift between him and Premier Li Keqiang and other top officials entrusted with the economy, it also shows the power struggle has got so bitter that the president had to resort to the media to push his agenda.

Yes, the “authoritative person” was Xi, judging from three revealing words in the interview – kai men hong,which literally means “open the door to see red lucky sight”, referring to a good start.

“Our economy is seeing unexpected new problems. It cannot be described with simple concepts like kai men hong…Our economic trend is not U-shaped and absolutely not V-shaped. It is L-shaped. It is not going away in a year or two,” said the “authoritative person” in the interview.

Take that as a resounding slap on the face for Politburo Standing Committee member and Vice-Premier Zhang Gaoli, who is in charge of the economy. In a public conference late March, Zhang said: “From the numbers, I expect kai men hong in the first quarter. This year we tackle the difficulties. Next year will be blue sky and gentle water.”