Illustration: Intense infighting within Xi Jinping’s central leadership and the military. (Image by People News)
[People News] Recently, the power struggle within the Chinese Communist Party (CCP) has intensified. Following Xi Jinping's unexpected arrests of Zhang Youxia and Liu Zhenli, the internal dynamics within the military and the party's upper echelons have been thrown into chaos. The military has remained silent, adopted a passive stance, and engaged in soft resistance for a week. At this critical juncture, a sensitive leak reportedly from within the CCP has targeted Xi Jinping's elder sister, Qi Qiaoqiao. This leak unveils a shocking scandal: the Xi family is amassing wealth by monopolising global oil trade and domestic strategic resources, with figures that surpass ordinary imagination.
The wealth code of Venezuelan and Iranian oil
Let’s first examine the core of this leak: the low-price oil monopoly.
It is widely known that Venezuela possesses the largest oil reserves in the world. Recently, U.S. Secretary of State Rubio disclosed that Venezuela, in an effort to repay the massive debts incurred from the CCP's Belt and Road Initiative, has been compelled to sell oil to China at an extremely low price—just $20 per barrel.
Under normal circumstances, such inexpensive strategic resources should be managed by state-owned enterprises like China National Petroleum and Sinopec after importation, which would benefit national development. However, the leak suggests that the reality is quite different. This highly profitable 'profit margin business' is entirely monopolised by a company owned by Xi Jinping's sister, Qi Qiaoqiao.
Qi Qiao Qiao, through her controlled trading company, purchases oil at $20 per barrel and sells it to domestic Sinopec for between $40 and $60. The price difference of $20 to $40 goes directly into the Xi family's pockets. Statistics indicate that from the oil trade between Venezuela and Iran alone, Qi Qiao Qiao earns an annual profit of up to 400 billion yuan.
What does 400 billion yuan signify? It accounts for approximately 2% of China's annual GDP. This practice is possible because Xi Jinping himself monopolises the secret dealings with the Maduro regime in Venezuela, considering it part of his 'international strategy.' Under the protection of the 'one supreme leader' authority, Qi Qiao Qiao has effectively engaged in a 'legal robbery' of the nation's critical resources by leveraging import quota rights.
The Xi family's immense wealth resembles an iceberg, with much hidden beneath the surface.
If oil serves as the 'cash cow' for the Xi family's fortune, the other industries associated with Qi Qiao Qiao represent a vast and inscrutable iceberg.
Qi Qiao Qiao operates with extreme secrecy; she never appears in public but instead manages her affairs through a network of agents. A key figure in this operation is Long Jie, who is 59 years old this year and hails from Hunan. Long Jie is seen as the actual leader of the seven investment companies under Qi Qiao Qiao, overseeing all sensitive businesses, including oil and rare earths.
Let’s explore the various sectors where the Xi family has extended its influence.
1. Real Estate and Infrastructure: Qi Qiao Qiao and her husband, Deng Jiaguai, began developing the most lucrative real estate projects in Beijing and Shenzhen as Hong Kong businessmen back in the 1990s. They founded "Beijing Zhongminxin Real Estate Development Co., Ltd.", where they constructed the renowned luxury residential complex "Guan Yuan". Additionally, they partnered with the Shenzhen Metro to create "Metro Yuanwei Real Estate Company, monopolizing the land resources above the metro stations and profiting from their resale.
2. Rare Earth Resources: Rare earths are a strategic asset for China, and the Xi family has been involved for a long time. They invested in Jiangxi Rare Metals Tungsten Industry Holding Company through "Shanghai Wangchao Company", acquiring an 18% stake. The rare earth resources held by this company are virtually priceless.
3. Finance and Insurance: The most shocking revelation is that the Ping An Group, which once boasted assets worth trillions, is reportedly now under the control of the Xi family. Former Chairman Ma Mingzhe is now accused of effectively working for Qi Qiao Qiao and Qi An An.
4. Concrete Business: Qi Qiao Qiao has even monopolised the concrete business in Shenzhen and Guangzhou, generating an annual profit of 130 billion RMB at its peak from this sector alone.
According to military insiders, Qi Qiao Qiao's personal and family net worth has soared to 20 trillion RMB through a complex structure of shareholding via multiple agents. This level of wealth not only rivals that of a nation; it effectively treats the entire country as a personal ATM.
The Eruption of the Scandal and Its Subtle Connection to the Zhang Youxia Case
Many may wonder why these corruption scandals involving the Xi family have suddenly come to light at this particular moment. This is directly linked to the cases of Zhang Youxia and Liu Zhenli.
The current situation within the Chinese Communist Party (CCP) can be described as 'confusing and intricate.' The signals coming from the CCP's military newspaper are in a constant state of flux.
From the editorial published on January 25 to the three commentary articles released between January 31 and February 2, the tone has progressively diminished. Political issues are scarcely mentioned, with corruption being the only topic briefly acknowledged.
On February 2, the military newspaper published a commentary titled 'Taking on the Mission with Strong Commitment,' which explicitly labelled Zhang Youxia and Liu Zhenli as 'corrupt elements,' 'roadblocks,' and 'stumbling blocks,' with 'Chairman Xi' referenced three times throughout the piece.
Interestingly, the previous day's commentary made an unusual reference to Hu Jintao's 2011 remarks regarding the 'Four Great Tests' and 'Four Types of Dangers.' While it superficially criticised Zhang Youxia, it subtly implied that Xi Jinping lacks the capability to govern effectively and questioned his impact on reform, opening-up, and the market economy.
In comparison to the article from February 1, the February 2 piece appears to have taken on a more aggressive tone, suggesting it may have been penned by a different author. Former Inner Mongolia official Du Wen disclosed that over 60% of soldiers and more than 80% of officers in the military sympathise with and support Zhang Youxia and Liu Zhenli. However, there is also a small group of 'little pinks' who, as if energised, are vocally defending the accountability of the Chairman of the Military Commission. It is possible that these commentary articles were authored by individuals from various factions and camps.
Therefore, the revelation of the Qi Qiaoqiao oil monopoly scandal is likely a targeted counterattack from the anti-Xi faction within the party.
The 400 billion barrels of oil, black gold, have ignited a powder keg.
Xi Jinping has consistently utilised 'anti-corruption' as a means to eliminate political rivals, alleging corruption against Zhang Youxia and Liu Zhenli, yet no evidence has ever been disclosed. Recently, the anti-Xi faction has revealed concrete evidence of the Xi family's annual earnings of 400 billion, intending to inform the entire party and military that the most corrupt official resides within Zhongnanhai, right in Xi Jinping's own household.
Following the exposure of this revelation overseas, reports suggest that Xi's faction is in a state of extreme panic. Sheng Xue, the overseas pro-democracy leader who initially disclosed the information, received a mysterious phone call urging her to retract the revelation. This 'there's no silver here' tactic has ironically led to greater public belief in the authenticity of the claims.
It can be argued that the corruption scandal involving Qi Qiaoqiao serves as a 'nuclear bomb' in this power struggle, fundamentally dismantling the moral foundation of Xi Jinping's anti-corruption efforts.
In this context, the stance of political elders is also of paramount importance. Rumours have circulated that former Vice President Li Yuanchao recently 'passed away' unexpectedly, prompting speculation about whether he was 'silenced' by Xi's faction. Li Yuanchao is regarded as a key reformist figure, and during the conflict between Xi and Zhang, he likely aligned himself with Zhang Youxia.
Simultaneously, several senior military generals, including Liao Xilong and Wei Fulian, have 'mysteriously passed away' during the coup, most of whom were former superiors or supporters of Zhang Youxia.
Currently, while Xi Jinping appears to have removed Zhang Youxia from power, he is confronting the most significant political crisis of his 13-year tenure. The 400 billion in oil black gold associated with Qi Qiaoqiao may very well be the final spark that ignites this volatile power situation.
(Published first by People News)
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