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China's ten most powerful 'black collar class' unmasked

Source : ANI
Last Updated: Mon, Jan 30, 2012 12:10 hrs

They dress in dark suits, drive black limousines and have rumored links to 'black societies' from the underworld, and are known as the 'black collar class'.

Until now, these shadowy mandarins led the charge of China's thundering economy, but from behind the scenes.

But now, according to the Daily Mail, a groundbreaking report, has unmasked the ten most powerful bosses behind China's terrifying brand of state capitalism.

They include business dynasties that have ruled firms for decades, according to reports from the Brookings Institution, specialist Chinese publications and the Sunday Times.

These 'red dragons' are now set to become as powerful as the Chinese military, provincial leaders and government ministers.

Between them they control the majority of the Chinese economy, where corruption and vested interests are hidden behind a cloak of secrecy.

These bosses are poised to take over a string of Western companies.

Take the example of Zhang Qingwei. He was the former boss of the Commercial Aircraft Corporation of China (COMAC), and now under his leadership, the company has fought to wrestle back control of the Chinese skies from Boeing and Airbus.

In a sign of his influence and power, Qingwei has been singled out as the state entrepreneur most likely to win political office. He has begun that march up the communist party, with an appointment as a provincial governor.

Another business honcho is Wang Jianzhou, widely regarded as China's "phone boss". Anybody who has used a mobile phone in China will have used Jianzhou's company - China Mobile. The mobile phone network is the largest and most powerful in the world, with an estimated 650 million subscribers. The firm has 230,000 employees and is listed on the New York Stock Exchange and Hong Kong Stock Exchange.

Woman entrepreneur Li Xiaolin comes from the Li Family, a dynasty that 'controls all electric power interests', according to U.S. diplomatic cables.

Her hardline father Li Peng has stepped down as boss of China Power International Development, but the company is run by Xiaolin and her brother Xiaopeng, a vice governor of Shanxi province.

As security minister for the Politburo, Zhou Yongkang is tasked with the protection of the state, and his power and influence stretches far and wide. He reportedly controls China's oil interests.

Su Shulin is one of China's youngest mandarins and is the boss of Sinopec (China Petroleum and Chemical Corporation Limited ), the top-ranking company in the Fortune Global 500.

The chemicals firm is a subsidiary of the state-owned Sinopec Group. He has recently been given a role as a provincial governor and is thought of as being among the 'sixth generation' of national leaders.

Chen Yuan, a banker, is still regarded as a young newcomer, largely due to the powerful shadow cast by his father, Chen Yuan, one of the powerful figures who urged the brutal suppression of protests in Tiananmen Square in 1989.

Banking boss: Xiao Gang is currently chairman of the board of directors of Bank of China Limited and Bank of China (Hong Kong) Limited.

Gang is even more powerful than the bank's president - a sign of his ambition and power.

Oxford educated Guo Shuqing holds a prominent position at the State Administration of Foreign Exchange. He was earlier a provincial governor.

Zhu Yanfeng is the head of one of China's older carmakers, First Automobile Works. An engineer by qualification, he is the current president of China FAW Group Corporation and a provincial vice-governor.

Zhang Guoqing is a Harvard Business School alumni and heads China's largest arms maker, China North Industries Corporation (NORINCO).

He is now one of the most powerful figures within China's military-industrial complex, supplying arms around the world. (ANI)



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