Recently, there have been rumors circulating online about the “death” of 96-year-old former Chinese Premier Zhu Rongji, but Zhu made a rare public appearance recently. Meanwhile, former Vice President of China, Wang Qishan, who was recently embroiled in online scandals, has taken over as the Honorary Chairman of the Advisory Committee of Tsinghua University School of Economics and Management from Zhu Rongji. He hosted a banquet for the attendees, where Zhu Rongji’s son, Zhu Yunlai, was also present. Analysts believe that these developments are related to dispelling rumors about Zhu and Wang, as well as the power struggles between Xi Jinping and the old guard.
On October 31, the official website of the Tsinghua University School of Economics and Management announced that the 2024 meeting of the Advisory Committee of the School of Economics and Management was held at Tsinghua School of Economics and Management on October 25. Zhu Rongji entrusted Tsinghua University President Li Ruming to convey his greetings to members of the Advisory Committee and special invited experts. Former Vice President of China, Wang Qishan, has taken over as the Honorary Chairman of the Advisory Committee of Tsinghua School of Economics and Management from Zhu Rongji and hosted a banquet for the attendees.
The news also indicated that Zhu Rongji’s son, Zhu Yunlai, the former President and CEO of China International Capital Corporation (CICC), also attended the banquet.
It was reported that before the annual meeting took place, on October 25, member representatives of the Advisory Committee of the School of Economics and Management of Tsinghua University were received by Ding Xuexiang, a member of the Politburo Standing Committee and Vice Premier, in Beijing. Ding is one of Xi Jinping’s representatives.
Zhu Rongji served as the Premier of the State Council of the People’s Republic of China from 1998 to 2003. In recent years, he has rarely appeared in public, including missing the 100th anniversary celebration of the Chinese Communist Party in 2021 and the opening ceremony of the 20th National Congress of the Communist Party of China. His last public appearance was in October 2020 when a photo of him celebrating his 92nd birthday in a hospital circulated online.
The Advisory Committee of the Tsinghua School of Economics and Management has gathered some prominent figures from the domestic and international business communities, with Apple CEO Tim Cook serving as the chairman. Zhu Rongji was the first dean of the Tsinghua School of Economics and Management and the Honorary Chairman of the Advisory Committee. Following his handover to Wang Qishan, Zhu Rongji became the founding Honorary Chairman of the Advisory Committee.
According to the information available on the official website of the Tsinghua School of Economics and Management, during the annual meeting in 2023, it was Vice President of China, Han Zheng, who met with the representatives, while in 2022, then Vice President of China, Wang Qishan, met with the representatives via video conference.
In recent years, the Xi Jinping regime has intensified its crackdown on the financial sector, which has been seen as an attempt to seize control of wealth from the ruling elite. The number of senior Chinese financial officials investigated and removed from office has been increasing year by year. Those who have fallen from grace include former associates of Wang Qishan, such as former Deputy Governor of the People’s Bank of China Fan Yifei, and former Chief Executive of China Merchants Bank Tian Huiyu. The current Secretary of the Central Commission for Discipline Inspection is Xi’s close ally Li Xi.
Commentator Li Lin told Epoch Times that the Chinese financial system has always been controlled by powerful families within the Communist Party, and both Zhu Rongji and Wang Qishan have deep roots in the financial sector, with many proteges and former colleagues. The suppression of the financial sector in recent years has also taken a toll on Wang Qishan. This time, he has finally found a position on his own turf, representing the morale boost for senior officials in the financial sector.
As for Ding Xuexiang meeting with the representatives on behalf of Xi Jinping, Li Lin believes that since the Advisory Committee belongs to Tsinghua University and involves foreign participants, the Xi regime cannot intervene too aggressively. Wang Qishan’s high-profile presence indicates that Xi’s power is not as strong as before.
It is noteworthy that Zhu Rongji and Wang Qishan have recently been associated with negative news. Online rumors of Zhu’s “death” have been circulating, while there were reports on October 12 by “Hong Kong and Macau News Agency” accusing Wang Qishan of being “confined outside the east gate of the Forbidden City in Beijing on the night of the 7th,” and alleging that Wang Qishan embezzled wealth amounting to tens of billions.
An article by Du Zheng published in the Taiwanese media “Up Media” on October 20 stated that the revelations about Wang Qishan being publicized on an official Chinese propaganda website are highly unusual. The core figure behind this website may belong to a faction within Xi Jinping’s camp, such as Cai Qi in charge of propaganda or Li Xi overseeing the anti-corruption campaign.
Chinese-American scholar Wu Zuolai told Epoch Times that negative information about Zhu Rongji and Wang Qishan tends to surface from time to time, some of which are speculative, but cannot rule out the possibility that political rivals may be hoping for their downfall.
He mentioned that senior Chinese officials have historically made deliberate public appearances in response to rumors. For example, when there were rumors about Li Yuanchao being arrested, a photo of him sitting at home reading a newspaper would circulate shortly after to prove his well-being. Zhu Rongji’s recent public greeting and Wang Qishan’s appearance serve as confirmation of their current status. This indicates that the channels of information between these senior officials and overseas sources are connected.
Wu Zuolai expressed his belief that Wang Qishan appeared on behalf of Zhu Rongji. They had collaborated in the past in the economic and financial sectors. Wang Qishan’s appointment as the Honorary Chairman of Tsinghua indicates his seniority in this field, showing that the political elders within the Communist Party now have a certain degree of autonomy. For example, in recent times, figures like Wen Jiabao and Li Ruihuan have resurfaced, signaling a failed decision by Xi Jinping, and the need for advice from them. Their status has risen, granting them a voice.
“Xi Jinping’s current power is not as strong as before, and even the members of his Politburo Standing Committee have reached a consensus that Xi Jinping’s decade in power has been a failure. However, because these individuals were promoted by Xi, they cannot openly criticize him. Currently, the ‘two defenders’ of Xi are dwindling, and as Xi’s power weakens, the emergence of figures like Wang Qishan represents the internal opposition within the party elevating their status. Therefore, considering the numerous rumors since the Third Plenum, they are not baseless,” Wu Zuolai stated.