“The majority of people with money, especially extraordinarily rich people, are good people.China has not responded officially to the allegations.Family members and friends of Xi, his predecessor Hu Jintao, former premier Wen Jiabao and other top officials all had links to companies controlled by Wang, according to the New York Times.”He sacrificed the opportunity to realise a huge return in investment,” he said according to a press release on Friday.Deng’s firm sold them “at a low price point” two months before the company’s multi-billion-dollar initial public offering in Hong Kong in December 2014, Wang said.”Wang is known outside China for a string of overseas acquisitions including the organiser of Ironman extreme endurance contests, Swiss sports marketing group Infront, and a stake in Spanish football club Atletico Madrid.7 billion, valuing that unit alone at $24 billion.The declaration by Wang comes after a sweeping anti-corruption drive under Xi has targeted a swathe of prominent cadres and low-level officials.”The comments were made in response to a question about a New York Times article alleging that friends and relatives of China’s top leadership made more than $1 billion from investments in Wanda’s commercial property and cinema companies.President Xi is even more scrupulous when it comes to family affairs Beijing: Chinese President Xi Jinping’s brother-in-law owned shares in a firm controlled by the country’s richest man Wang Jianlin, the businessman confirmed after allegations that political connections helped Wanda Group grow.
The release only quoted Wang addressing the specific case of China Rubber O-Rings Manufacturers Deng on Thursday.The son of a Red Army captain, Wang was a soldier before he founded Wanda in the 1980s, building it up with military discipline.Now 61, Wang is the 15th richest man on the planet according to Bloomberg’s real-time ranking, which put his net worth at $36.The campaign has seen thousands dismissed from their posts, with some receiving lengthy prison terms, but critics say it has been used to purge Xi’s political rivals.”Wanda has no political affiliation,” he said at the forum.’No political affiliation’Wang has sought to play down overseas speculation on the link between his success and government ties, which in China can be crucial to seal land deals with local authorities.2 billion on Thursday.”If you’ve made money, it’s definitely because you have skills; I believe that the majority of people who’ve made money did so through normal channels,” he said.6 billion and his company owns more than 200 malls, shopping complexes and luxury hotels across China.”This incident demonstrates that President Xi is not only strict in managing our country but is even more scrupulous when it comes to family affairs.He said on Monday that market forces and creative abilities were crucial to building major businesses in China, rather than personal connections.
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