Dark clouds hang over Tiananmen Square in Beijing. (Lintao Zhang/Getty Images)
[People News] On June 17, 2026, the Lujiazui Forum's opening ceremony took place, featuring a speech by He Lifeng, a member of the Political Bureau of the Central Committee and Vice Premier of the State Council. Chen Jining, also a member of the Political Bureau and Secretary of the Shanghai Municipal Committee, was present at the event. He Lifeng's attendance this year elevated the event's profile slightly, as Chen Jining's participation in previous years had been deemed sufficient.
However, considering that Liu He, a former Vice Premier, has also delivered speeches at this forum in the past, He Lifeng's appearance this time is not particularly unusual. It does raise a question: why did he choose to attend this year after skipping previous years?
The Lujiazui Forum is co-hosted by the Shanghai Municipal Government, the People's Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission. Since its establishment in 2008, it has held 16 sessions, aimed at showcasing the Chinese Communist Party's financial reform policies and achievements to the outside world. However, under a one-party authoritarian regime, financial policies and reforms primarily serve to protect the interests of the Communist Party and the elite. The Communist Party lacks the courage to open up the financial market as it promised when it joined the World Trade Organisation in 2001. If the market were to open, all of the Party's manipulations would be exposed, making it difficult for the Communist Party to continue profiting from the public.
In this context, one might wonder which high-ranking official of the Communist Party of China (CPC), including He Lifeng and Chen Jining, is unaware of the situation. However, even if they are aware, those within the system choose to continue supporting the CPC, uttering statements they may not genuinely believe. At this year's discussion forum, He Lifeng was no exception, delivering a series of 'wolf warrior' remarks aimed at the United States, although he did not name it directly.
He Lifeng resorted to the typical convoluted logic employed by CPC officials, asserting that the CPC 'has always advocated resolving issues through dialogue and consultation,' and that 'it is normal for friction and differences to arise during the cooperation process among countries. In international trade and financial exchanges, we do not provoke trouble; we have never actively instigated friction with other countries, nor have we ever created opposition.' He further claimed, 'We are absolutely not afraid of trouble. In the face of unreasonable suppression and containment that disregards facts, China will never compromise, never back down, and will certainly defend national sovereignty, security, and development interests in accordance with the law.' He added, 'We cannot impose the family rules of a few countries on others,' and 'unilateral sanctions cannot resolve differences; cooperation and win-win outcomes are the right path'...
What He Lifeng stated clearly confirms that the ongoing economic sanctions imposed by the United States on the CPC have indeed inflicted considerable pain. Currently, the U.S. financial and economic sanctions against the CPC are primarily reflected in several areas:
1. Issuing warnings and secondary sanctions against banks involved in sanctions related to Iranian oil and its supply chains.
2. Several Chinese and Hong Kong entities and individuals involved in the transportation or trading of Iranian oil will be added to the sanctions list, resulting in the freezing of their assets under U.S. jurisdiction. Recently, on June 10, the U.S. Department of the Treasury's Office of Foreign Assets Control announced sanctions against nine individuals and entities that had assisted the Iranian Islamic Revolutionary Guard Corps and the logistics department of the Iranian Ministry of Defence and Armed Forces in procuring weapons. This includes companies based in Shanghai and Hong Kong, as well as four Chinese citizens. Prior to this, sanctions were also imposed on five Chinese companies, including Hengli Petrochemical and Shandong Lucheng Petrochemical, for their involvement in 'Iranian oil transactions.'
3. Several officials from Hong Kong and mainland China suspected of undermining Hong Kong's autonomy will be added to the sanctions list, which will restrict their travel to the U.S. and their financial activities.
4. Chinese companies in the semiconductor, artificial intelligence, and military supply chain sectors will be added to the list, limiting U.S. capital investment in these critical areas.
In the view of high-ranking Chinese Communist Party officials like He Lifeng, assisting Russia and Iran is seen as a political issue that is separate from financial matters. Chinese enterprises have consistently 'avoided trouble, never proactively provoking friction with other countries, and have never actively created opposition.' So why do Americans always seem to be looking for a fight? Not only are companies being sanctioned, but individuals are also being targeted, and it is unspoken that these individuals are likely the 'frontmen' for the elites.
What are high-ranking officials like He Lifeng really thinking? Are they intentionally pretending to be naive, or are they trying to mislead the public and deceive ordinary citizens? It is widely recognised that in international relations, politics, economics, and military affairs are interconnected and should not be viewed in isolation. According to the logic of the Chinese Communist Party (CCP), providing financial and military support to Russia and Iran is considered a domestic issue, unrelated to the US and Europe. However, if the CCP supports a malevolent regime that aims to disrupt the Middle East with nuclear weapons, backs authoritarian governments that threaten the security of the US and Europe, and aids leaders who harm their own citizens, can this really be deemed unrelated to the US and Europe? While the US and Europe are employing political, financial, and military strategies to counter these regimes, they also need to sever the channels that supply them with resources. Where is the error in this approach? It can only be concluded that the CCP, along with the high-ranking officials who endorse it, is resolutely choosing to align with the evil regime.
After asserting that they 'do not provoke trouble,' He Lifeng further claimed that the CCP 'absolutely does not fear trouble,' 'will never compromise, and will never back down.' Similar sentiments were expressed by Hua Chunying, the then spokesperson for the CCP, in 2020, but how much did the CCP actually compromise following Hua's statements? Especially since He Lifeng is currently engaged in trade negotiations, is he not aware of the extent to which the CCP has compromised and retreated?
Interestingly, in its coverage of He Lifeng's critical remarks about the US, the CCP's Xinhua News Agency altered its tone, omitting phrases like 'not to provoke trouble, not to fear trouble, not to compromise, and not to back down.' The state media's report completely lacked the 'wolf warrior' rhetoric. Instead, it stated that He Lifeng emphasised, 'Only mutual respect based on international rules and multilateralism, peaceful coexistence, and win-win cooperation is the correct path.' This mirrors the tone used when Xi Jinping met with US President Trump.
What, then, is the reason for He Lifeng's 'wolf warrior' stance in Shanghai, which seems at odds with the current superficial rhetoric of the Chinese Communist Party? It is evident that threatening the United States is futile, and intimidating foreign investors will only drive them further away. Alternatively, could He Lifeng be using this moment to demonstrate his loyalty to Xi Jinping following the investigation of his associate, Wei Xiaodong, the 'Organisation Minister' from Fujian?
(First published by People News) △

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