Wu Bangguo

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China's 'Princelings' Rolling in Cash, Power

Relatives of top leaders enjoy 'Red Nobility'

(Newser) - The wealth of Bo Xilai's family members was no anomaly. Known as "princelings," close relatives of many Chinese leaders are on a fast track to fortune and power, the New York Times reports. The president's son used to head a company with a security-scanner monopoly; the... More »

China Vows Not to Ditch Socialism

'We must cherish it more than ever,' says leader Wu Bangguo

(Newser) - In case anyone was unclear, China is not planning to ditch socialism. Despite officials' apparent capitalistic canniness when it comes to issues like trade deficits, market competition, global investment, and ravenous retailing, China plans to stay true to its socialist principals, and will eschew Western capitalist systems, said Wu Bangguo,... More »

Chinese Prez Rips Corruption

(Newser) - China's President Hu Jintao blasted the "extravagance and corruption" of some Communist officials at a key party congress today as he warned that the nation's promise has "fallen short" of public expectation. He also cautioned that "independence" forces were growing stronger in Taiwan and that the island... More »

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