Opinion

George Chen

Could Strauss-Kahn’s successor be Chinese?

George Chen
May 20, 2011 02:06 UTC

By George Chen
The opinions expressed are the author’s own.

So, Dominique Strauss-Kahn has resigned with immediate effect. But to the International Monetary Fund it’s hardly the end, just a new beginning.

So who will be the new leader of the IMF? In Beijing, there’s growing ambition and confidence that a Chinese candidate should be appointed, or at least considered.

Zhu Min, a native of Shanghai who experienced the horrible Cultural Revolution and then managed to be admitted into the prestigious Fudan University after the political movement ended, is widely considered and promoted by domestic media as a strong Chinese candidate for the top IMF post.

In the West, Zhu is probably not so well known, although he made his reputation in the banking world after he helped the Bank of China go public in Shanghai and Hong Kong. Last year, Zhu was named by Strauss-Kahn as his special advisor in the IMF, providing Zhu with an international platform from which to raise his profile.

Zhu also studied at Princeton University and John Hopkins University where he obtained a doctorate degree in economics. He speaks fluent English. He’s also widely considered in the financial industry as a master of presentation and communication skills — he led the IPO roadshows for the Bank of China in 2006. Later he was promoted to be a deputy governor of China’s central bank, the People’s Bank of China.

High net worth individuals: China’s new export

George Chen
Apr 20, 2011 09:57 UTC

LV

By George Chen
The opinions expressed are the author’s own.

From Paris to New York, London to Hong Kong, when you see more Chinese people shopping in high-end retail outlets, you know they are indeed growing rich. What if I tell you that many rich Chinese are actually planning to become non-Chinese in the foreseeable future?

Merchants Bank, China’s No.1 credit card issuer, which is also widely considered the best retail bank in the world’s No.2 economy, has teamed up with consultancy firm Bain & Company for a study of China’s high net worth individuals. In addition to some fancy numbers, I’m amused and surprised by one of the latest findings – about 60 percent of China’s high net worth individuals have emigrated or are seriously thinking of doing so.

Who are they? Most of them are entrepreneurs with at least 100 million yuan (about US15.3 million) to invest, according to the joint survey.

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