China’s former finance minister Lou Jiwei was removed from his post as head of the National Social Security Fund in April 2019 after allegedly provoking the highest echelon of the Communist Party by making comments that disapproved of the “Made in China 2025” strategy
Zhang Hongan, a former secretary to Lou Jiwei, the former finance minister and now head of the Committee of Foreign Affairs of the CPPCC National Committee, was sacked on December 18. The prequel to Zhu Rongji, the former Communist party premier, was sacked for criticising Mr Xi’s “Made in China 2025” strategy, and a few months earlier he had endorsed Mr Xi’s so-called double economic cycle.
Zhang Hongan, a member of the Party committee of China Jianyin Investment Co, is under investigation for “serious violations of discipline and law,” the CPC Central Commission for Discipline Inspection (CCDI) said Tuesday.
According to public records, Zhang Hongan, 55, a native of Xiaogan, Hubei province, had a PhD in economics and was a former secretary of the General Office of the Minister of Finance, where Lou jiwei was deputy party secretary and vice minister. Lou Jiwei served as chairman of China Investment Corporation and Chairman of Central Huijin Investment Co., LTD. Zhang Hongan served as secretary of the board of directors of CIC, deputy director and Director of the Bank Department of Central Huijin. In 2011, Zhang Hongan was appointed deputy general manager of Central Huijin Investment. Lou jiwei became finance minister in 2013.
According to official sources, a number of finance ministry officials have been sacked since the 18th CPC National Congress. In January 2016, The head of the National Bureau of Statistics and former vice-minister of Finance Wang Baoan, who was Xiang Huaicheng’s “big secretary” when he was finance minister, was removed. In May 2018, Zhang Shaochun, former deputy secretary of the CPC Leading Group and vice minister of the Ministry of Finance, was investigated. He served as deputy chief of staff and ministerial secretary at the Finance ministry in the 1990s, serving as the “big secretary” to then finance Minister Liu Zhongqui.
According to the Communist Party’s anticorruption convention, incidents involving secretaries generally reflect the situation of the leaders they follow. At present, Lou Jiwei secretary is investigated, suspected of involvement in the communist Party’s top infighting.
Mr Lou, 70, is considered the favourite of Zhu Rongji, the former Communist party premier, who followed him from Shanghai to The State Council, China’s cabinet.
Since February 2007, Lou jiwei has served successively as deputy Secretary-General of The State Council and head of the Preparatory Group of the State Foreign Exchange Investment Corporation, party Secretary, chairman and CHIEF Executive officer of CIC, and Party Secretary and Chairman of central Huijin. In March 2013, Lou Jiwei was appointed minister of Finance.
Lou Jiwei was removed from his post as finance minister on Nov 7, 2016, and was appointed chairman of the National Social Security Fund (NSSF) on Nov 10.
In April 2019, Lou jiwei abruptly stepped down early from his post as head of the NSSF.
Foreign media reported at the time that Lou jiwei may have lost his office early because he angered Xi. That’s because Lou jiwei publicly denounced “Made in China 2025” during the party’s annual legislative session.
“In any case, the Made in China 2025 strategy should not be proposed,” Lou told reporters at the time, according to Hong Kong’s South China Morning Post. I was against it from the beginning, and I didn’t quite agree with it.”
Lou jiwei said: “The negative impact of Made in China 2025 is a waste of taxpayers’ money”, “and made in China 2025 said smallpox rotten, but in fact almost nothing.”
The so-called “Made in China 2025” strategy, launched by the Communist Party of China and The State Council in May 2015, plans to spend $300 billion to focus on 10 high-tech industries, including new energy, robotics, semiconductors and nanotechnology. He vowed to achieve China’s goal of transforming itself from a “manufacturing power” to a “manufacturing power” by 2025.
In addition, under the influence of the VIRUS epidemic this year, the COMMUNIST Party of China (CPC) is beset with internal and external difficulties and infighting. For reform of the Chinese communist party general secretary Xi Jinping from supply side to the layout of the binary economy of different position, Lou September 24 in the caixin wrote dark batch of xi jinping, questioned the supply side of the real reform by the binary layout can’t do that, his talk about trade dependency, and rare were taken out of the “June” has been the ouster of former premier zhao ziyang.
In response to the double economic cycle proposed by the authorities, Lou stressed the two key points of genuine supply-side structural reform, rule-based opening-up and the rule of law. “In particular, I would like to remind the government that since this is an objective law, it is impossible for the government to optimize the layout of the industrial chain in a double-cycle way,” he said. “It is not good for the government to use public funds to seize new technological heights. It will not pay off.
“Premier Zhao Ziyang affirmed his statement that ‘we should implement the strategy of international circulation in coastal areas,'” Lou said. “This is an important juncture, with trade dependence gradually rising to 32 percent in 1993.”
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