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Children of Chinese leaders prefer a career in finance

  • Staff Reporter
  • 2011-11-23
  • 08:54 (GMT+8)
Zhu Yunlai, the son of former Chinese premier Zhu Rongji, became executive president of China International Capital Corp in 2004 one of a number of children of the country's leaders to pursue a career in money. (Photo/Xinhua)

Zhu Yunlai, the son of former Chinese premier Zhu Rongji, became executive president of China International Capital Corp in 2004 one of a number of children of the country's leaders to pursue a career in money. (Photo/Xinhua)

The ofspring of leaders from China and Hong Kong have plunged one after the other into careers in investment and fund companies, according to the Hong Kong newspaper Ming Pao.

Notable among them is Zhu Yunlai, the son of former Chinese premier Zhu Rongji. Zhu was introduced by one of China's current vice premiers, Wang Qishan, to the Hong Kong branch of China International Capital Corp in 1998, rising to become executive president of the company in 2004.

Early last year, Reuters reported that Wen Yunsong, the son of Premier Wen Jiabao, had jointly founded a private equity firm, New Horizon Capital, with other investors in 2005. Singapore state-run Temasek Holdings is also one of the company's long-term investors. However, Wen quit the company last year to avoid suspicions of having too close a relationship with Temasek.

Tang Ka-shing, the son of Henry Tang, considered one of the main candidates to become Hong Kong's next chief executive, was on probation at the Hong Kong-based CLSA Group last year.

In addition, Denise Yam, the daughter of the former chairman of the Hong Kong Monetary Authority Joseph Yam, is a current vice president and analyst at Morgan Stanley.

References

Zhu Yunlai 朱雲來

Zhu Rongji 朱鎔基

Wen Yunsong 溫雲松

Wen Jiabao 溫家寶

Henry Tang 唐英年

Tang Ka-shing 唐嘉盛

Joseph Yam Chi-kwong 任志剛

Denise Yam 任永欣

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  • Zhang Jie (張杰)

    Zhang Jie (張杰)

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