According to Bloomberg TV News Editor Denise Pellegrini, all it takes is for some investigative reporting exposing the dirty laundry, or in this case the even dirtier assets of one Xi Jinping – “the man in line to be China’s next president.”.
Xi Jinping, vice president of China, visits the China Shipping terminal at the Port of Los Angeles in Los Angeles, California, US, on Thursday, Feb.
In “Xi Jinping Millionaire Relations Reveal Fortunes of Elite” Bloomberg writes: “Xi warned officials on a 2004 anti graft conference call: “Rein in your spouses, children, relatives, friends and staff, and vow not to use power for personal gain.
As Xi climbed the Communist Party ranks, his extended family expanded their business interests to include minerals, real estate and mobile phone equipment, according to public documents compiled by Bloomberg.
Xinhua is subordinate to the State Council and reports to the Communist Party of China’s Publicity and Public Information Departments.
Those interests include investments in companies with total assets of $376 million; an 18 percent indirect stake in a rare- earths company with $1.73 billion in assets; and a $20.2 million holding in a publicly traded technology company.
Rachel Coombes is a business journalist based in Beijing, China. Rachel has a passion for financial markets and breaking news stories and loves writing about business news, stock market, and economic opinions that matters most to its audience. Rachel spends a lot of time discovering and researching latest financial markets and industry news stories in order to make sure the latest and greatest stories are brought to you first on BigBoardNews.com.