Media News - Friday, October 26, 2012
Chinese authorities have blocked the Chinese website of the New York Times and most access to the main website after it revealed that the extended family of premier Wen Jiabao has controlled assets worth at least $2.7bn. Several of Wen's close relatives have become extremely wealthy since his ascent to the top leadership, the news organisation said. But in many cases their holdings were obscured by layers of partnerships and investment vehicles involving friends, colleagues or business partners. A single investment held on paper by Wen's 90-year-old mother Yang Zhiyun - a retired schoolteacher - was worth $120m five years ago, the Times said. It added it was unclear if Yang was aware of the holdings in her name. The report is embarrassing not only for Wen himself - who comes from a modest background and is widely seen as the sympathetic, populist face of the government - but for the party. It is the latest in a string of unwelcome revelations about the vast wealth amassed by those around senior leaders. (The Guardian)
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