Translator: Kyan
Proofreader: YunChing

Source of picture: Sound of Hope

On May 20, according to the Wall Street Journal, the CCP introduced a policy that will block promotions for senior officials whose spouses or children have substantial assets abroad. This attempt is to exempt senior officials from the various sanctions currently targeting Russia by the international community.

The ban, outlined in an internal notice in March by the Organization Department of the Communist Party’s Central Committee, could play a role in Chinese Xi Jinping’s efforts to increase his influence at the 20th Party Congress later this year.

Some insiders indicated that the directive prohibits the spouses and children of ministerial officials from directly or indirectly owning shares in any real estate overseas or an entity registered overseas.

The senior officials and their immediate family members will also be barred from opening accounts with the overseas financial institutions unless they have valid reasons, such as study or work.

At present, the overseas family members of some senior officials have sold their assets and shares of their overseas companies. The analysts pointed out that Xi Jinping is trying to minimize the geopolitical risks faced by the Communist Party. He worries that if he attacks Taiwan by force, the United States and other Western powers will inevitably impose sanctions on Chinese leaders and their overseas relatives. The senior officials facing overseas financial risks may be a political burden, especially after seeing how the U.S. and European countries have imposed far-reaching sanctions on Russia across the board following its invasion of Ukraine.

Of course, this new rule also influences Mr. Xi to exert over his party’s political opponents ahead of the 20th National Congress of the Communist Party’s pre-election meeting at the end of this year.

Link: : https://gnewsapp.com/post/p2564162/

Published by:tianzhihuan

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