Chinese “Communist” Legislature Includes 31 Billionaires

Saturday, March 09, 2013
Zong Qinghou

For a nation officially devoted to the egalitarian ideals of communism, China has no shortage of lawmakers making themselves extremely rich.

 

The National People’s Congress, China’s mostly ceremonial legislature charged with approving edicts from the Communist Party, currently includes 31 legislators who possess $1 billion or more in personal assets.

 

China’s wealthiest lawmaker is Zong Qinghou, founder of Chinese drinks maker Wahaha, who has an estimated fortune of $13 billion, according to the Hurun Global Rich List.

 

The tabulation also revealed that the Chinese People’s Political Consultative Conference, a “toothless advisory body” according to Jamil Anderlini of the Financial Times, that convenes about two weeks each year, has another 52 billionaires among its members.

 

The U.S. Congress, for comparison’s sake, has zero billionaires.

-Noel Brinkerhoff

 

To Learn More:

Chinese National People’s Congress Has 83 Billionaires, Report Says (by Jamil Anderlini, Financial Times)

China’s Billionaire People’s Congress Makes Capitol Hill Look Like Pauper (Bloomberg News)

Comments

randonomous 9 years ago
china isnt really communist though. Its a mixture of oligarchy, capitalism, and communism. china doesnt really fit into one aspect alone, because they basically adopted many aspects from many concepts

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