Skip to content

All posts by LYW - 10. page

Xi Jinping Is Determined to Put an End to the Dominance of Jiang Zemin

China Gate and several other overseas Chinese websites translated an article from the Diplomat on Xi Jinping’s anti-corruption campaign in the Chinese military. According to the Diplomat‘s article, Xi Jinping’s decision to expel both Xu Caihou and Guo Boxiong from the Party for corruption "reflects his determination to put an end to the dominance of Jiang Zemin," who was the former chairman of the Central Military Commission (CMC) and general secretary of the Chinese Communist Party. Jiang Zemin promoted Xu Caihou and Guo Boxiong to the positions of vice chairmen of the Central Military Commission and Politburo members. "Guo and Xu continued to pay allegiance to Jiang Zemin even after he retired as CMC chairman."

Source: The Diplomat, July 31, 2015 & China Gate, August 3, 2015
http://thediplomat.com/2015/07/guo-boxiong-jiang-zemin-and-the-corruption-of-the-chinese-military/
http://www.wenxuecity.com/news/2015/08/03/4459009.html

 

Indications of No Summer Leadership Meeting in Baidaihe

On August 5, 2015, Xinhua News Agency published a news article titled, “Do Not Wait Anymore; No Meetings in Baidaihe.” According to the article, almost every year since Mao Zedong era until 2003, top current and retired Chinese Communist Party leaders met at the Beidaihe summer resort in July or August. The annual Beidaihe retreat meeting is one of the CCP’s most mysterious meetings. Many major decisions or policies have been made there. 

Recently, different sources have speculated on the themes of the coming Baidaihe meeting this August and whether or not one will be held. The Xinhua article recalled briefly the history of the Beidaihe meetings and concluded, “Not long ago, the CCP Central Politburo met twice, on July 20 and on July 30, which was unusual. They have already discussed "the Thirteenth Five-Year Plan," the CCP Fifth Plenary Session, economic strategies, the "anti-tiger campaign," and other important issues. The article questioned, "Is it meaningful, necessary, or possible to talk about these issues again in Baidaihe several days or ten days later?” 

[Editor’s note: In 2003, the New York Times commented that Hu Jintao’s decision to cancel the Beidaihe meeting was likely an attempt to limit Jiang Zemin’s influence.]

Source: Xinhua News Agency, August 5, 2015
http://www.ennweekly.com/2015/0805/16012.html
http://news.xinhuanet.com/politics/2015-08/05/c_128096703.htm
New York Times, August 4, 2003

http://www.nytimes.com/2003/08/04/world/chinese-leader-cancels-communists-seaside-retreat.html

Caixin.com Was First to Mention Jiang Zemin’s Name in Its Report on “Guo Boxiong’s Ups and Downs”

On July 30, 2015, the same day that Xinhua reported the expulsion of Guo Boxiong from the Chinese Communist Party (CCP), Caixin.com, a media group that is close to current top CCP leader Xi Jinping, published a biography of Guo titled, “Guo Boxiong’s Ups and Downs.” In this report, Caixin hinted at the close relationship between Guo Boxiong and Jiang Zemin, the CCP’s former top leader.

In 1990 when Guo was an army commander, he told a group of army officials that he would build an army that met Jiang Zemin’s five-sentence requirement for a qualified army. Of all of China’s official news reports, Caixin.com was the first media that directly mentioned Jiang Zemin’s name in such an anti-corruption report.

Source: Caixin.com, July 30, 2015
http://china.caixin.com/2015-07-30/100834676_all.html#page2

Xinhua: Former Top Military General Guo Boxiong Expelled from the Chinese Communist Party

According to Xinhua News Agency on July 30, 2015, The Chinese Communist Party Central Committee’s Political Bureau expelled Guo Boxiong, former vice chairman of the Central Military Commission (CMC) from 2002 to 2012, from the Chinese Communist Party over corruption accusations. “The political bureau also decided to transfer his case and relevant evidence to military prosecutors for handling in accordance with the law.”

The punishment of Guo Boxiong demonstrates "the firm determination of the CCP Central Committee, led by current CCP general secretary Xi Jinping, to govern the Party and armed forces strictly in line with the law." The CCP Central Committee’s Political Bureau stated in its statement of July 30, 2015, “No matter what power one holds or how high one’s position is, if a person violates Party rules and the law, he or she should be hunted down without compromise and without mercy.” 

[Note: In the military, Guo Boxiong was regarded as a proxy for former Chinese leader Jiang Zemin.]

Source: Xinhua News Agency, July 30, 2015
http://news.xinhuanet.com/legal/2015-07/30/c_1116096002.htm

The Stock Market Crash ‘Destroyed’ 600,000 Members of the Middle Class

On July 17, 2015, China Business Journal published an article titled, “The Stock Market Crash Has ‘Destroyed’ 600,000 Members of the Middle Class.” Since June of 2015, a total value of ten trillion Chinese yuan has evaporated as a result of the stock market crash in China. Forbes once predicted that the Chinese middle class would number over 14 million people. If 500,000 to 600,000 members of the Chinese middle class have disappeared as a result of the stock crash, 3 percent of the Chinese middle class has disappeared.

Source: China Business Journal, July 17, 2015
http://news.cb.com.cn/html/economy_9_26382_1.html

Xin Jinping’s Big Move: Jiang Zemin’s Closest Army Allies Are No Longer in Power

On July 17, 2015, Hong Kong Oriental Daily (http://hk.on.cc/hk/) published an article on the military leadership personnel changes in China titled, “Three Phenomenon at the Center of Army Restructuring.” China Gate and some other overseas Chinese websites republished the article on July 18, 2015, with a different title, “Xi Jinping’s Big Move: Jiang Zemin’s Closest Army Allies Are No longer in Power.”

According to the article, Xi has assigned some senior military generals to insignificant positions. Over the last six months, those in the most important leadership positions in the armed forces have all been replaced. Those officials who were close to Xi were promoted.

Source: Oriental Daily, July 17, 2015
http://hk.on.cc/cn/bkn/cnt/commentary/20150717/bkncn-20150717000313936-0717_05411_001.html
http://www.wenxuecity.com/news/2015/07/18/4422945.html

The Beijing News: Chinese Police Take Action against Malicious Short Sellers

On July 14, 2015, The Beijing News published an article on new findings from a recent investigation on “Malicious” short selling of A-shares (Chinese domestic stocks).

On July 9, 2015, Vice Minister of China’s Public Security Meng Qingfeng entered China Securities Regulatory Commission with a police team in order to look for “malicious” short sellers. On July 12, 2015, the Ministry of Public Security in conjunction with the China Securities Regulatory Commission discovered some clues leading to the crimes of “malicious” short selling of stocks and indexes. Some trading companies have been involved in manipulating securities and futures exchanges. China’s Public Security Ministry and the China Securities Regulatory Commission will take action against “hostile short sellers.”

Source: The Beijing News, July 14, 2015
http://www.bjnews.com.cn/finance/2015/07/14/370518.html

FT Chinese: Offshore Funds Are Leaving the Chinese Stock Market

On July 15, 2015, Financial Times Chinese published an article on its website titled, “Offshore Funds Pull Out of the Chinese Stock Market.” The article stated, “As of yesterday, global investors had been pulling capital out of Chinese stocks via Shanghai – Hong Kong Stock Connect for seven straight trading days. Since July 6, 2015, overseas buyers have liquidated 44.2 billion Chinese yuan (about 7.1 billion US dollars) from their Chinese stock holdings via the Stock Connect trading link between Hong Kong and Shanghai.

Beijing initiated tough rescue measures to save China’s stock market. It is allowing more than half of listed companies to suspend stock trading. Major shareholders have been banned from selling any shares of their stocks. China’s Central Bank has injected liquidity into the stock market.

For now, the rescue efforts have succeeded in containing the panic in the stock market. "Some rescue measures, however, have shocked Western investors, such as requiring listed companies to report good news in order to boost the price of their stock." Many analysts have recently criticized the Chinese government’s rescue efforts. They describe the current market improvement as a government induced rebound after a decline.

Michael Lai, investment director at GAM, wrote, “The final straw was allowing half the companies listed to suspend trading, effectively turning A-shares (Chinese domestic stocks) into an unsalable market.” Some investors doubt Beijing’s ability to support the market.

Source: Financial Times Chinese, July 15, 2015
http://www.ftchinese.com/story/001063008?full=y