China's incoming president Xi Jinping's family 'has wealth of hundreds of millions'
The family of China's next president has amassed a fortune running into hundreds of millions of pounds, according to a hugely damaging new report.
By Malcolm Moore, Beijing
3:40PM BST 29 Jun 2012
The revelation comes as the Communist party faces increasingly difficult questions about how its leaders, who are paid ministerial salaries of just £8,000-a-year, live such gilded lives.
Another 3.17 million yuan investment in Beijing's Hiconics Drive Technology company, made in 2009, is now worth 128.4 million yuan. The sums do not account for liabilities and consequently do not reflect the net worth of the family.-
I only general find the "Beijing's Hiconics Drive Technology company", 北京合康亿盛变频科技股份有限公司 (HICONICS DRIVE TECHNOLOGY CO., LTD.),
made in 2003.6.11, an limited company quoted on stock exchanges, worth 1816million Yuan, sales turnover: 613million yuan;
in the paper
"Most of the traceable fortune is held by Mr Xi's older sister, Qi Qiaoqiao, 63, her husband Deng Jiagui, 61, and her daughter Zhang Yannan, 33. However, a brother-in-law, Wu Long, ran New Postcom Equipment Co, which has won hundreds of millions of yuan in contracts from state-owned China Mobile.
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a joke, the first name of Xi's sister should be "Xi" but not "Qi" qiaoqiao, and her daughter's first name should be "Deng" follows her father "Deng Jiagui";
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Other companies in the same group, wholly owned by the family, have assets of at least 539.3 million yuan. They also have an indirect 18 per cent stake in Jiangxi Rare Earth & Rare Metals Tungsten Group, whose assets are worth some £1.1 billion.
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Jiangxi Rare Earth & Rare Metals Tungsten Group, is a large state-owned enterprise, belong to Jiangxi province,found in 1949, the wholly group belongs to Jiangxi province government
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