Qin Xiao
Encyclopedia
Qin Xiao is a former banker and promoter of business reform who is now the Council Chairman of the Boyuan Foundation, a Hong Kong-registered non-profit think tank
that is regarded as representing reformist or liberalising factions of the political and business elite in mainland China.
began and Qin Xiao became a Red Guard
. As many Red Guards were in fact targeting people such as his father, Qin created a faction that defended against such radical attacks. At the end of the Cultural Revolution, like many former Red Guards he was relocated to the countryside
(in his case Inner Mongolia).
and then Chairman of the Board in CITIC Bank. In 2001 he was appointed Chairman of the Board of China Merchants Group
, in difficulty since the Asian financial crisis of 1997, and turned the troubled financial conglomerate around. During his time there, annual growth reached 20 per cent, total assets increased more than 400 per cent and net profits increased about 20-fold.
Also in 2001, he served as Chairman of the APEC Business Advisory Council, where he regularly promoted economic liberalization. In 2008 he became a non-executive director of China Telecom
.
He is also the Honorary Chairman of Hong Kong Chinese Enterprises Association.
Since then, he has used his position as a respected business leader and chairman of the Boyuan Foundation to promote "universal values" (a loaded term in Chinese politics often associated with Western-style human rights and democracy), political reform and economic reform in China, whilst building a network of like-minded movers and shakers. As well as major Chinese figures, the Boyuan Foundation includes such Western luminaries as Brent Scowcroft
and Leon Brittan.
He has explicitly and repeatedly stated his opposition to the so-called "China Model
" of politics and economics (mixing authoritarianism and state-owned enterprises with some market economics). For example in his speech at the “China’s Economy in 2010” forum on Jan. 7, 2010 at the New York Stock Exchange, Qin said: “Some people believe that the crisis of the past 2 years illustrates that the Chinese model is the best model in the world. I don't agree with that.” On other occasions, he has said “the government should stay within the government’s functions” and “power cannot be mixed and sold.” His calls for more liberal political and economic reform and less government involvement have earned him the enmity of the "New Left" grouping in Chinese politics.
His involvement in (non-Red Guard) politics dates back at least to 1983, when Qin began working as a party official at the Chinese Communist Party's power centre in Zhongnanhai
, including stints as a member of the Communist Party’s Central Committee Political Bureau and secretary to Song Renqiong
, a former secretary of the party's central secretariat. He is further connected to the princelings of the Party by family relation: his sister is married to a son of Chen Yun
, one of the Eight Immortals.
Qin is currently a member of the Eleventh National Committee of Chinese People's Political Consultative Conference
and previous posts include:
In 1983, he received a masters in Economic Management from the China University of Mining.
In 2002 he received a Ph.D in Economics from the University of Cambridge
.
He is currently a part-time professor at the School of Economics and Management of Tsinghua University
and the Graduate School of the People's Bank of China.
Think tank
A think tank is an organization that conducts research and engages in advocacy in areas such as social policy, political strategy, economics, military, and technology issues. Most think tanks are non-profit organizations, which some countries such as the United States and Canada provide with tax...
that is regarded as representing reformist or liberalising factions of the political and business elite in mainland China.
Biography
Qin's father was a senior party cadre. When in high school in 1966, the Cultural RevolutionCultural Revolution
The Great Proletarian Cultural Revolution, commonly known as the Cultural Revolution , was a socio-political movement that took place in the People's Republic of China from 1966 through 1976...
began and Qin Xiao became a Red Guard
Red Guards (China)
Red Guards were a mass movement of civilians, mostly students and other young people in the People's Republic of China , who were mobilized by Mao Zedong in 1966 and 1967, during the Cultural Revolution.-Origins:...
. As many Red Guards were in fact targeting people such as his father, Qin created a faction that defended against such radical attacks. At the end of the Cultural Revolution, like many former Red Guards he was relocated to the countryside
Down to the Countryside Movement
The Down to the Countryside Movement was a policy instituted in the People's Republic of China in the late 1960s and early 1970s. As a result of the anti-bourgeois thinking prevalent during the Cultural Revolution, Mao Zedong declared certain privileged urban youth would be sent to mountainous...
(in his case Inner Mongolia).
Business
After several years working in government (including time at the Coal and Oil ministries), Qin Xiao became Vice Chairman of the Board and General Manager in China International Trust & Investment CorpCITIC
Not to be confused with Citigroup, another large financial services company.Not to be confused with CIT Group, another large financial services company....
and then Chairman of the Board in CITIC Bank. In 2001 he was appointed Chairman of the Board of China Merchants Group
China Merchants Bank
China Merchants Bank is a bank headquartered in Shenzhen, China. Founded in 1987, it is the first share-holding commercial bank wholly owned by corporate legal entities.CMB has over five hundred branches in mainland China and one in Hong Kong...
, in difficulty since the Asian financial crisis of 1997, and turned the troubled financial conglomerate around. During his time there, annual growth reached 20 per cent, total assets increased more than 400 per cent and net profits increased about 20-fold.
Also in 2001, he served as Chairman of the APEC Business Advisory Council, where he regularly promoted economic liberalization. In 2008 he became a non-executive director of China Telecom
China Telecom
China Telecom Corp. Ltd. is a Chinese state-owned telecommunication company. It is the largest fixed line service and 3rd largest mobile telecommunication provider in the People's Republic of China.-Sectors:...
.
He is also the Honorary Chairman of Hong Kong Chinese Enterprises Association.
Politics
In 2010 he retired from full-time business, stating he wished to become a "public intellectual".Since then, he has used his position as a respected business leader and chairman of the Boyuan Foundation to promote "universal values" (a loaded term in Chinese politics often associated with Western-style human rights and democracy), political reform and economic reform in China, whilst building a network of like-minded movers and shakers. As well as major Chinese figures, the Boyuan Foundation includes such Western luminaries as Brent Scowcroft
Brent Scowcroft
Brent Scowcroft, KBE was the United States National Security Advisor under Presidents Gerald Ford and George H. W. Bush and a Lieutenant General in the United States Air Force. He also served as Military Assistant to President Richard Nixon and as Deputy Assistant to the President for National...
and Leon Brittan.
He has explicitly and repeatedly stated his opposition to the so-called "China Model
Beijing Consensus
Beijing Consensus is a term that represents an alternative economic development model to the Washington Consensus of market-friendly policies promoted by the IMF, World Bank and U.S. Treasury, often for guiding reform in developing countries...
" of politics and economics (mixing authoritarianism and state-owned enterprises with some market economics). For example in his speech at the “China’s Economy in 2010” forum on Jan. 7, 2010 at the New York Stock Exchange, Qin said: “Some people believe that the crisis of the past 2 years illustrates that the Chinese model is the best model in the world. I don't agree with that.” On other occasions, he has said “the government should stay within the government’s functions” and “power cannot be mixed and sold.” His calls for more liberal political and economic reform and less government involvement have earned him the enmity of the "New Left" grouping in Chinese politics.
His involvement in (non-Red Guard) politics dates back at least to 1983, when Qin began working as a party official at the Chinese Communist Party's power centre in Zhongnanhai
Zhongnanhai
Zhongnanhai is an area in central Beijing, China adjacent to the Forbidden City which serves as the central headquarters for the Communist Party of China and the State Council of the People's Republic of China. The term Zhongnanhai is closely linked with the central government and senior Communist...
, including stints as a member of the Communist Party’s Central Committee Political Bureau and secretary to Song Renqiong
Song Renqiong
Song Renqiong was a general in the People's Liberation Army of the People's Republic of China .Song was born in Liuyang, Hunan Province....
, a former secretary of the party's central secretariat. He is further connected to the princelings of the Party by family relation: his sister is married to a son of Chen Yun
Chen Yun
Chen Yun was one of the most influential leaders of the People's Republic of China during the 1980s and 90s, and one of the top leaders of the Communist Party of China for almost its entire history. He was also known as Liao Chengyun ; it's unclear whether this was his original name or a pseudonym...
, one of the Eight Immortals.
Qin is currently a member of the Eleventh National Committee of Chinese People's Political Consultative Conference
Chinese People's Political Consultative Conference
The Chinese People's Political Consultative Conference [], shortened as 人民政协, Rénmín Zhèngxié, i.e. "People's PCC"; or just 政协, Zhèngxié, i.e. "The PCC"), abbreviated CPPCC, is a political advisory body in the People's Republic of China...
and previous posts include:
- a deputy to the Ninth National People's CongressNational People's CongressThe National People's Congress , abbreviated NPC , is the highest state body and the only legislative house in the People's Republic of China. The National People's Congress is held in the Great Hall of the People, Beijing, capital of the People's Republic of China; with 2,987 members, it is the...
- a member of the Tenth National Committee of the Chinese People's Political Consultative ConferenceChinese People's Political Consultative ConferenceThe Chinese People's Political Consultative Conference [], shortened as 人民政协, Rénmín Zhèngxié, i.e. "People's PCC"; or just 政协, Zhèngxié, i.e. "The PCC"), abbreviated CPPCC, is a political advisory body in the People's Republic of China...
- an advisor on the Foreign Currency Policy of the State Administration of Foreign Exchange.
Education
Qin graduated in 1975 from the Shanxi Mining Institute with a bachelors in Mechanical Engineering.In 1983, he received a masters in Economic Management from the China University of Mining.
In 2002 he received a Ph.D in Economics from the University of Cambridge
University of Cambridge
The University of Cambridge is a public research university located in Cambridge, United Kingdom. It is the second-oldest university in both the United Kingdom and the English-speaking world , and the seventh-oldest globally...
.
He is currently a part-time professor at the School of Economics and Management of Tsinghua University
Tsinghua University
Tsinghua University , colloquially known in Chinese as Qinghua, is a university in Beijing, China. The school is one of the nine universities of the C9 League. It was established in 1911 under the name "Tsinghua Xuetang" or "Tsinghua College" and was renamed the "Tsinghua School" one year later...
and the Graduate School of the People's Bank of China.
Writing
Qin has written several books and articles, including:- Asia's financial crisis and the post-crisis recovery: a structural and institutional perspective (University of Hong Kong. Chinese Management Centre, 2000) http://books.google.com/books?id=9XmvHAAACAAJ&dq=qin+xiao&hl=en&ei=h8GTTZ6aI5S4sAPH1cjTBQ&sa=X&oi=book_result&ct=result&resnum=2&ved=0CC0Q6AEwAQ
- The theory of the firm and Chinese enterprise reform: the case of China International Trust and Investment Corporation (RoutledgeCurzon 2004) http://books.google.com/books?id=ry-QOXMg358C&lpg=PP1&pg=PP1#v=onepage&q&f=false