https://www.scmp.com/rss/309394/feed Jiang Jiemin is a Chinese economic official who was, until September 2013, head of the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council. He is also the former Chairman of PetroChina and ex-General Manager of China National Petroleum Corporation (CNPC). He previously served as Vice-Governor of Qinghai Province. In September it was announced that he was under investigation by China's Communist Party for "suspected serious disciplinary violations". en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Wency Chen Wency Chen Chinese President Xi Jinping turned the spotlight on the country’s artificial intelligence (AI) development efforts during his recent tour of local incubator the Shanghai Foundation Model Innovation Centre (SMC). “China boasts abundant data resources, a comprehensive industrial system, and vast market potential, providing a promising outlook for the development of AI,” Xi was quoted as saying by state news agency Xinhua during his visit on Tuesday. Launched in September 2023 after just 38 days... https://www.scmp.com/tech/policy/article/3308589/smc-what-see-shanghai-ai-incubator-visited-xi-jinping?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3308589/smc-what-see-shanghai-ai-incubator-visited-xi-jinping?utm_source=rss_feed Thu, 01 May 2025 02:00:13 +0000 I have fond memories of president Jiang Zemin, who died last week at the age of 96. Though he did not know it, he had a great influence on my life and career. In July 2000, I had been asked to set up a new government department, InvestHK, to attract businesses from around the world to set up in our city. It was a challenging assignment. The images of Hong Kong over the three previous years that lingered in foreigners’ minds were largely negative: the armoured vehicles of the People’s Liberation... https://www.scmp.com/comment/opinion/article/3201671/when-jiang-zemin-showed-world-hong-kong-meant-business?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3201671/when-jiang-zemin-showed-world-hong-kong-meant-business?utm_source=rss_feed Sun, 04 Dec 2022 03:45:09 +0000 China has had five major leaders since the founding of the People’s Republic, each of them distinctive and each with their own path to power. In his new book China’s Leaders: From Mao to Now , American political science professor and leading China scholar David Shambaugh not only charts the rise of each man but does it in a way that is accessible to the general reader. Here, Shambaugh talks about how he sees Mao Zedong, Deng Xiaoping, Jiang Zemin, Hu Jintao and Xi Jinping – from their... https://www.scmp.com/news/china/politics/article/3151769/mao-now-david-shambaugh-compares-and-contrasts-chinas-leaders?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3151769/mao-now-david-shambaugh-compares-and-contrasts-chinas-leaders?utm_source=rss_feed Sun, 10 Oct 2021 01:30:15 +0000 Two top allies of China's disgraced former security tsar Zhou Yongkang have been sentenced to jail terms of 16 and 13 years for corruption. Jiang Jiemin, who used to chair the state-run China National Petroleum Corporation and later oversaw state-owned firms, received 16 years’ jail while Sichuan province’s former deputy party chief Li Chuncheng was given a 13-year sentence. Both had turned in the bribes they received, and were fined 1 million yuan (HK$1.2 million) each. Jiang, who received his... https://www.scmp.com/news/china/policies-politics/article/1866628/chinas-former-cnpc-head-jiang-jiemin-gets-16-years-jail?utm_source=rss_feed https://www.scmp.com/news/china/policies-politics/article/1866628/chinas-former-cnpc-head-jiang-jiemin-gets-16-years-jail?utm_source=rss_feed Mon, 12 Oct 2015 09:30:00 +0000 Zhang Yi has been promoted to the position of chairman of the State-owned Assets Supervision and Administration Commission of the State Council (Sasac), according to Xinhua’s online database of human resources. Although the official website of Sasac hasn’t yet updated its leadership page to include Zhang, many state-owned enterprises – including the China Silk Corporation and the China National Cotton Reserves Corporation – have given the 63-year-old the title ‘chairman’ in their company... https://www.scmp.com/news/china/article/1385046/anti-corruption-expert-zhang-takes-control-sasac?utm_source=rss_feed https://www.scmp.com/news/china/article/1385046/anti-corruption-expert-zhang-takes-control-sasac?utm_source=rss_feed Wed, 18 Dec 2013 06:30:00 +0000 An anti-corruption drive is sweeping China. As soon as Bo Xilai's trial ended on August 26, news broke of trouble brewing at China National Petroleum Corporation (CNPC), one of the nation's biggest state-owned enterprises and parent company of the Hong Kong-listed PetroChina. First, the Central Commission for Discipline Inspection announced that CNPC deputy general manager Wang Yongchun was being investigated for gross violation of party discipline. A day later, the State-owned Assets... https://www.scmp.com/comment/insight-opinion/article/1303360/action-cnpc-signals-beijings-resolve-hit-corruption-hard?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1303360/action-cnpc-signals-beijings-resolve-hit-corruption-hard?utm_source=rss_feed Wed, 04 Sep 2013 16:00:00 +0000 Top Chinese economic official Jiang Jiemin has been sacked as head of the body overseeing state-owned companies for "suspected serious disciplinary violations", the official Xinhua news agency reported on Tuesday. The phrase is normally used as code for corruption in China, and the move comes as the country's leaders step up a campaign against graft. Xinhua cited the powerful Organisation Department of the ruling Communist party. Jiang was removed from office as head of the State-owned Assets... https://www.scmp.com/news/china/article/1302435/china-sacks-head-state-asset-regulator-jiang-jiemin-amid-graft-probe?utm_source=rss_feed https://www.scmp.com/news/china/article/1302435/china-sacks-head-state-asset-regulator-jiang-jiemin-amid-graft-probe?utm_source=rss_feed Tue, 03 Sep 2013 03:30:22 +0000 A scandal that has taken down the head of the State-owned Assets Supervision and Administration Commission (SASAC) just ahead of the Communist Party's key autumn economic planning meeting has raised hopes among investors anxious to see a trigger point for the long-promised break-up of state monopolies. Expectations for a "big bang" reform move have been running high since President Xi Jinping and Premier Li Keqiang completed the once-a-decade leadership transition in March. They pledged to... https://www.scmp.com/news/china/article/1302190/corruption-probes-raise-state-owned-enterprise-reform-hopes?utm_source=rss_feed https://www.scmp.com/news/china/article/1302190/corruption-probes-raise-state-owned-enterprise-reform-hopes?utm_source=rss_feed Mon, 02 Sep 2013 16:00:00 +0000 Jiang Jiemin , the latest in a string of top mainland officials detained for corruption investigations, was last year questioned by party officials in relation to a Ferrari crash in Beijing, though the cases appear unrelated. The accident claimed the life of the only son of Ling Jihua , a top aide to then party general secretary and president Hu Jintao . Sources had told the Post that the probe over Jiang focused on a large sum of money - several tens of millions of yuan - that was transferred... https://www.scmp.com/news/china/article/1301459/detained-top-official-jiang-jiemin-was-probed-over-ferrari-crash-beijing?utm_source=rss_feed https://www.scmp.com/news/china/article/1301459/detained-top-official-jiang-jiemin-was-probed-over-ferrari-crash-beijing?utm_source=rss_feed Sun, 01 Sep 2013 16:00:00 +0000 China's biggest energy firm PetroChina will join ExxonMobil in developing Iraq's giant West Qurna oilfield and is in talks with Lukoil to buy into a second project at the field, industry sources said. China is already the top foreign player in Iraq's southern oilfields and a deal at West Qurna would boost its dominance and could make PetroChina the biggest single foreign investor. PetroChina partners BP at Rumaila, Iraq's biggest oilfield, and operates the Halfaya field. The company was the... https://www.scmp.com/business/commodities/article/1295716/petrochina-join-exxon-giant-iraq-oilfield?utm_source=rss_feed https://www.scmp.com/business/commodities/article/1295716/petrochina-join-exxon-giant-iraq-oilfield?utm_source=rss_feed Fri, 09 Aug 2013 16:00:00 +0000 China National Petroleum Corp has already spent more money this year on energy assets than any other global producer. Oil and gas fields controlled by Exxon Mobil and Russia's Rosneft may be next on the list. CNPC, the mainland's largest oil producer, has made more than US$9 billion of purchases this year - and has considered a further US$4 billion, according to people familiar with the matter - as part of a plan to double overseas output by 2015. Spending was likely to accelerate under Zhou... https://www.scmp.com/business/commodities/article/1294813/chinese-oil-giant-cnpc-seen-buying-more-overseas-energy-assets?utm_source=rss_feed https://www.scmp.com/business/commodities/article/1294813/chinese-oil-giant-cnpc-seen-buying-more-overseas-energy-assets?utm_source=rss_feed Tue, 06 Aug 2013 16:00:00 +0000 In the corridors of power at state-owned enterprises you will hear two new buzzwords these days - bao shi and cao zuo. Bao, meaning guarantee, and shi (10) refer to the 10 per cent profit growth target set by the state-owned Asset Supervision and Administration Commission (SASAC) for state-owned enterprises. Cao zuo, meaning operation, applies to all the creative accounting - if not book-cooking - needed to achieve that target, which was announced two weeks ago. The SOE managers don't have much... https://www.scmp.com/business/article/1234953/creative-managers-get-cooking-when-fanciful-targets-served?utm_source=rss_feed https://www.scmp.com/business/article/1234953/creative-managers-get-cooking-when-fanciful-targets-served?utm_source=rss_feed Fri, 10 May 2013 16:00:00 +0000 Making Jiang Jiemin, the former chairman of PetroChina, the head of the State-owned Assets Supervision and Administration Commission (Sasac) is a big sell for state enterprises. The oil giant spearheaded the so-called jian yuan zengxiao - downsize-for-efficiency - campaign launched by the then premier Zhu Rongji back in 2000. His formula for building an efficient and competitive state enterprise was to trim staff numbers, cut expenses and then list the business. In its 2000 prospectus, the... https://www.scmp.com/business/article/1218705/fat-chance-staff-cuts-after-petrochina-headcount-doubles?utm_source=rss_feed https://www.scmp.com/business/article/1218705/fat-chance-staff-cuts-after-petrochina-headcount-doubles?utm_source=rss_feed Fri, 19 Apr 2013 16:00:00 +0000 I have no doubt that there will be a pre-election by Beijing loyalists for the next chief executive. The evidence lies in the press conferences of newly appointed Premier Li Keqiang and listed oil giant PetroChina. First, the premier's maiden meet-the-press session. Isn't it interesting that the moderator was able to say "the lady in the fourth row in the yellow section" in a split second when picking one among 800 eager faces wanting to ask a question? Isn't it interesting that in all these... https://www.scmp.com/business/article/1197548/state-leaves-little-chance-media-follows-prepared-script?utm_source=rss_feed https://www.scmp.com/business/article/1197548/state-leaves-little-chance-media-follows-prepared-script?utm_source=rss_feed Fri, 22 Mar 2013 16:00:00 +0000 Deputy Public Security Minister Meng Hongwei will double up as head of the new China Coast Guard, designed to bring the nation's patchwork of maritime law enforcement agencies under a single roof amid ongoing territorial disputes with neighbouring countries. Meanwhile, the reshuffle of provincial Communist Party positions continued yesterday, following the change of guard in the central government last week, with the former head of the China Securities Regulatory Commission, Guo Shuqing, being... https://www.scmp.com/news/china/article/1194987/china-maritime-agencies-brought-under-one-body?utm_source=rss_feed https://www.scmp.com/news/china/article/1194987/china-maritime-agencies-brought-under-one-body?utm_source=rss_feed Tue, 19 Mar 2013 16:00:00 +0000 Jiang Jiemin, the head of the country's biggest oil and gas producer, has been picked to lead a ministry-level agency that oversees about 70 trillion yuan (HK$87 trillion) of non-financial state assets. Jiang, the chairman of China National Petroleum Corp, replaces Wang Yong as head of the State-owned Assets Supervision and Administration Commission, NetEase reported yesterday. Wang was promoted to become a state councillor. Sasac and CNPC spokesmen were unable to confirm the report last... https://www.scmp.com/business/china-business/article/1194014/cnpc-chief-jiang-jiemin-take-top-job-sasac-state-shuffle?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1194014/cnpc-chief-jiang-jiemin-take-top-job-sasac-state-shuffle?utm_source=rss_feed Mon, 18 Mar 2013 16:00:00 +0000 When it came to China news stories, cover-ups, riches and a beautiful First Lady dominated readers' interest on SCMP.com. Here are the 10 most popular stories based on reader visits. How crash cover-up threatens career of Hu's top aide When a half-naked man in his 20s died in a high-speed Ferrari crash in Beijing in March, it might have passed without comment. But the man, it later transpired, was Ling Gu, the son of Ling Jihua, chief of the General Office of the Communist Party's Central... https://www.scmp.com/news/china/article/1115781/scmpcoms-top-10-most-popular-china-stories-2012?utm_source=rss_feed https://www.scmp.com/news/china/article/1115781/scmpcoms-top-10-most-popular-china-stories-2012?utm_source=rss_feed Sun, 30 Dec 2012 04:02:53 +0000 PetroChina agreed to pay Encana C$1.18 billion (US$1.2 billion) for a 49.9 per cent stake in an Alberta shale formation as Asia’s biggest oil producer steps up acquisitions of overseas oil and gas assets. PetroChina will also pay C$1 billion over four years to fund development of the project, Encana said in a statement. The accord follows Beijing-based PetroChina’s purchase this week of a US$1.63 billion stake in the Browse liquefied natural gas venture in Australia. This week’s deals more than... https://www.scmp.com/business/companies/article/1105141/petrochina-pays-us12b-form-joint-venture-encana?utm_source=rss_feed https://www.scmp.com/business/companies/article/1105141/petrochina-pays-us12b-form-joint-venture-encana?utm_source=rss_feed Fri, 14 Dec 2012 00:36:23 +0000 PetroChina, Asia’s biggest oil producer, agreed to pay BHP Billiton US$1.63 billion for its holding in Woodside Petroleum’s proposed Browse liquefied natural gas project in Western Australia. PetroChina will acquire an 8.33 per cent stake in the East Browse joint venture and a 20 per cent share of West Browse, BHP said on Wednesday in a statement. The deal comes as Chinese oil and gas acquisitions reached a record this year, following Cnooc’s US$15.1 billion bid for Nexen. It gives PetroChina a... https://www.scmp.com/business/companies/article/1103488/bhp-sell-its-interest-browse-petrochina-us163b?utm_source=rss_feed https://www.scmp.com/business/companies/article/1103488/bhp-sell-its-interest-browse-petrochina-us163b?utm_source=rss_feed Wed, 12 Dec 2012 00:55:28 +0000 The chairman of China's biggest oil and gas producer has been questioned by the Communist Party's top discipline watchdog in relation to the Ferrari crash in Beijing earlier this year that claimed the life of the only son of Ling Jihua, party general secretary Hu Jintao's former top aide, sources say. They said the probe into China National Petroleum Corp (CNPC) chairman Jiang Jiemin focused on a large sum of money - several tens of millions of yuan - that was transferred from CNPC to the... https://www.scmp.com/news/china/article/1081916/oil-chief-quizzed-over-bid-cover-death-hu-aides-son-ferrari-crash?utm_source=rss_feed https://www.scmp.com/news/china/article/1081916/oil-chief-quizzed-over-bid-cover-death-hu-aides-son-ferrari-crash?utm_source=rss_feed Tue, 13 Nov 2012 16:00:00 +0000 Updated at 4:30pm Brother Li leaves Li Keming, left, deputy director of the State Tobacco Monopoly Administration and brother of vice premier Li Keqiang, listens intently in a group meeting.  Li Keming was recently in the news when Bloomberg quoted a report by Brookings Institution as saying that he should be removed from his position as a top official in China's tobacco industry to avoid conflicts of interest with his brother, who currently overseas public health.  Apparently aware of the... https://www.scmp.com/news/18th-party-congress/article/1078440/live-update-day-2-18th-communist-party-congress?utm_source=rss_feed https://www.scmp.com/news/18th-party-congress/article/1078440/live-update-day-2-18th-communist-party-congress?utm_source=rss_feed Fri, 09 Nov 2012 01:50:33 +0000 The world's most valuable oil and gas producer has warned that China may hold off on fuel price rises because of fears of rising inflationary pressures on the mainland. PetroChina yesterday posted a 9.7 per cent fall in net profit to 103.39 billion yuan (HK$117.53 billion) in 2009. This is 4.4 per cent less than the 108.17 billion yuan average estimate of 26 analysts polled by Thomson Reuters, and its chairman poured cold water on speculation that the government might respond to rising crude oil... https://www.scmp.com/article/709719/beijing-not-likely-raise-fuel-prices-says-petrochina-chief?utm_source=rss_feed https://www.scmp.com/article/709719/beijing-not-likely-raise-fuel-prices-says-petrochina-chief?utm_source=rss_feed Thu, 25 Mar 2010 16:00:00 +0000