Xi Jinping Arrests Former Finance Minister Lou Jiwei, Zhu Rongji's Protégé, Amid Power Consolidation Drive

A former Chinese finance minister, Lou Jiwei, has reportedly been arrested as part of a broader political purge by Chinese leader Xi Jinping. Lou, 75, was once a favored protégé of former Premier Zhu Rongji and served as finance minister under Premier Li Keqiang.

According to a report by US-based commentator Cai Shenkun, Lou had been marginalized by the Jiang faction within the Communist Party. His fortunes changed after the 18th Party Congress in 2012, leading to his appointment as finance minister. He later headed the National Council for Social Security Fund and was a member of the Chinese People's Political Consultative Conference.

Lou had previously voiced criticism of the "Made in China 2025" strategy, calling it a waste of public funds. He was removed from his post at the social security fund shortly after these remarks, which some interpreted as a sign of Xi Jinping's reduced tolerance for dissent on economic matters.

The report suggests Lou's arrest is the latest in a series of actions aimed at consolidating Xi's power. It claims that with the impending 21st Party Congress, Xi is intensifying efforts to purge former officials and potential threats to his continued leadership, ensuring absolute power concentration.

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China Manufacturing 2025 strategy should not have been proposed. I opposed it from the beginning. It talks a lot but does little, wasting public funds.