Chairman of everything: Xi Jinping consolidates his power, and officials are quaking in their boots

July 8, 2014 Leave a comment

Chairman of everything: Xi Jinping consolidates his power, and officials are quaking in their boots

Jul 5th 2014 | BEIJING | From the print edition

CHINA’S president appears to have killed two eagles with one arrow in bringing down one of the nation’s highest-ranking military men. On June 30th General Xu Caihou was stripped of his Communist-Party membership and handed over to prosecutors on corruption charges. State media said he took money and other loot in exchange for arranging promotions. Until last year, General Xu was one of the two dozen most powerful men in the country.

His fall helps consolidate Xi Jinping’s control over the army and at the same time burnishes his credentials as an anti-corruption crusader. The party announced the expulsion of six more figures this week, including a former vice-minister, a former senior manager at a state-owned oil firm and a former head of a government watchdog. All of them were connected to Zhou Yongkang, until 2012 the head of state security and formerly one of China’s nine most powerful men. In a separate announcement, the party dismissed Wan Qingliang, a rising star who was party boss of Guangzhou, one of China’s largest cities.

Read more at  http://www.economist.com/news/china/21606318-xi-jinping-consolidates-his-power-and-officials-are-quaking-their-boots-chairman-everything

 

Filed under Macro Trends

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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