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WIC Template 1 Talking Point 5 Week in 60 Seconds 6 China Ink 7 China Consumer Week in China 8 Banking and Finance 9 Agriculture 10 Energy and Resources 11 M&A 13 China and the World 14 December 2012 15 Chinese Character Issue 176 17 Society and Culture 20 And Finally www.weekinchina.com 21 The Back Page The war on graft m o c . n i e t s p e a t i n e b . w w w New leaders say corruption could be the Party’s undoing – but is the problem too big and too widespread to fix? Brought to you by Week in China Talking Point 14 December 2012 A long, hard graft ahead Wang Qishan becomes anti-corruption tsar, but will he have an impact? “ eemingly a bizarre appoint- from power in recent years. Point- to have been getting worse, or at Sment,” was the verdict of Jay edly, he then warned that least much more apparent to the Taylor, the biographer of Chiang unchecked corruption in China public eye. Kai-shek. He was referring to the de- would spell “the end of the Party As we pointed out in WiC172, cision to include Du Yuesheng on a and the end of the state”. sales of high-end liquor Moutai new drug control commission. The offer a decent proxy for graft – as year was 1932. The problem was that How big a problem has graft be- the drink is the favoured banquet- Du was also the head of Shanghai’s come? ing tipple of corrupt cadres and the Green Gang and a major drug lord. ‘Endemic’ is the adjective that business folk seeking to bribe them. His appointment symbolised the springs to mind. Moreover, it seems While most of the stocks on China’s institutional corruption that bourses have performed lethargi- dogged Chiang’s government. Inter- cally, shares in Kweichou Moutai – estingly, the Chinese leader was which makes the alcoholic drink – aware that graft was one of his surged 3,500% during the past regime’s fatal weaknesses. Taylor decade thanks to rising demand and points out in his book Gen- soaring prices (leading to calls to eralissimo that Chiang di- ban officials from drinking this agnosed as much in a costly luxury or receiving it as a speech to a military confer- gift). ence (again in 1932). Speaking Transparency International last of the enemy that would even- week published its own annual cor- tually defeat him in the civil war, ruption index. This ranks 176 Chiang warned: “the roots of the countries and in a sign of deteri- Chinese Communist Party lie in the oration, China slipped from inefficiency and corruption of our 75th to joint 80th place, scor- government machine”. ing just 39 out 100 (where 0 Today – after more than six denotes ‘highly corrupt’ decades in power – that same Com- and 100 ‘very clean’). munist Party faces a similar issue A quick search of WiC’s itelf. As with Chiang, China’s cur- own web archive under rent leaders are making clear that the term ‘corruption’ corruption could see their own rule generates 154 sepa- at risk. rate articles touch- Over the past decade President ing on the subject. Hu Jintao and Premier Wen Jiabao An early case we have talked repeatedly about reported on was China’s corruption problem. But that of a Nanjing new Party boss Xi Jinping has official outed by neti- started out in office by making one zens, who posted photos of him Photo Source: Shutterstock Source: Photo of the most dramatic statements so wearing a $14,600 Vacheron far. Soon after being elected general Constantin watch (his salary was secretary of the Party, Xi gave a $584 a month). And last year we speech to the Politburo citing other looked at how offenders were (unnamed) regimes that had fallen becoming progressively more 1 Week in China Talking Point 14 December 2012 senior, and the sums involved much greater. Former railways minister Liu Zhijun was detained for taking up- wards of Rmb1 billion ($160 million) of bribes on high-speed train con- tracts, while the former deputy gov- ernor of Shandong province was purged on allegations that he had salted away billions more from du- bious dealings (see WiC131). In fact, hardly a day goes by with- out some tale of corruption emerg- ing in the Chinese media or via Sina Weibo microblogs. Late last month a village deputy head in Guangdong was suspended after allegations that he owned 80 properties and 20 cars valued at over Rmb2 billion. This month the mayor of Lanzhou Best Overall Renminbi Products and was accused of owning five luxury Services Provider watches and a police chief in Xin- jiang was removed when it emerged that he’d kept sisters as mistresses, giving both a place on the payroll as a reward. Indeed, sex and money go hand- in-hand in many of the corruption cases. Take the example of Chongqing official Lei Zhengfu, who got into trouble after indecent videoclips started circulating on- Best Bookrunner of Offshore Best Offshore line. It emerged that a construction Renminbi Bonds Renminbi Bond House company had paid an 18 year-old to have sex with Lei in return for granting it contracts. The whistle- blower who revealed the case has since said that he is aware of videos featuring at least five other senior figures from Chongqing. 2012: the annus horribilis… When Deng Xiaoping launched ‘re- form and opening’ his goal was the Dim Sum Bond House Best Dim Sum of the Year Bond House unleashing of a more entrepreneur- ial market economy in China. But a seamier by-product was rising cor- ruption, in part because officials still controlled access to the assets and opportunities that would allow com- panies and individuals to prosper. Over the years the general public has HSBC operates in various jurisdictions through its affiliates, including, but not limited to, HSBC Bank plc, authorised and regulated by the Financial Services Authority, The Hongkong and Shanghai Banking Corporation Limited, HSBC Securities (USA) Inc., member of NYSE, FINRA and SIPC, and become disenchanted by the steady HSBC Bank USA, NA. 12-043 stream of cases, each unveiling a 2 Week in China Talking Point 14 December 2012 fresh example of venality. net giant Tencent. In fact, there However, the year 2012 has was general surprise that, con- been altogether different, with trary to the usual practice, local the scandals that have emerged roads were not closed as his en- assuming a new scale of signifi- tourage drove across town. This cance. The biggest story of the spared local motorists the usual year by far has obviously been tailbacks. Nanfang Daily quoted the fall of Bo Xilai, princeling and one netizen: “I followed his bus former Party boss of Chongqing. to Tencent Plaza. It was around A tale of abuse of power, murder 4.17pm. There was no special and intrigue, Bo’s case rocked the police patrol on the streets, not Party, exposing illicit behaviour even traffic police. Traffic on by one of the country’s most sen- Shennan Avenue was as nor- ior politicians. The exact sums mal. I think the wind may truly are unknown, but local media have changed this time.” speculate that Bo and his family Reports in the China Daily – made fortunes in cahoots with which called Xi a “man of the (the now detained) Dalian tycoon people” and said that he had Xu Ming (see WiC145). Much of made “little fuss on his first of- that money was moved offshore. ficial visit” – were clearly de- The revelations – worthy of a signed to show the new chief John Grisham novel – would have Wang: huge task ahead setting a new tone. been serious enough. But there were “In China it is very important for further blows. The New York Times the central leadership to set an ex- produced an investigative expose disapproval at cases of abuse of ample because it sends a strong sig- into wealth accumulated by Wen Ji- power. He has demanded that Party nal to officials at the lower levels,” abao’s family (although Wen’s members take a resolute stand thought Ma Huaide, a law professor lawyers have disputed the article). against corruption, including abuse at China University of Political Sci- Then there was the attempted cover by relatives. “Recently, our Party has ence and Law. up by Ling Jihua of his son’s death in had serious discipline and legal cases The other significant aspect of a car accident. A chief of staff to Hu of a despicable nature which has had the trip was its destination. Visits to Jintao, Ling was destined for even a bad political effect and shocked Shenzhen conjure memories of higher office until it emerged that people,” Xi said, without naming any Deng’s famed 1992 ‘Southern Tour’, his son had smashed a black Ferrari individual incident. leading some analysts to say that Xi into a wall in Beijing in March. Ling Xi’s initial weeks in power have was signalling that he favours fur- Gu died, while two semi-naked also suggested an attempt to pres- ther economic reforms. women passengers were seriously ent a new, more ascetic style. Gov- A new broom? injured. A fake message sent from ernment officials have been told to The man Xi has selected to be the the son’s weibo sought to persuade cut back on costly banqueting, and new anti-graft tsar is Wang Qishan. media he was still alive, while a state- there are to be “no welcome ban- It’s an interesting choice, not least owned firm reportedly paid millions ners, no red carpets, no floral because the New York Times reports of dollars to the families of the girls arrangements or grand receptions that Wang has no children, which to keep quiet.
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