The commentary pointed out that before Evergrande fell into the crisis, its founder and chairman Xu Jiayin boarded the Tiananmen Gate for a group photo during the ceremony celebrating the founding of the 100th Communist Party of China on July 1. However, after the crisis, Xi Jinping’s government has been public. Keep your distance on issues related to Evergrande. This may be because Xu Jiayin had close contacts with Xi Jinping’s political opponents.
Nikkei Asia believes that Xu Jiayin had obviously had close contacts with the “Communist Youth League” led by Hu Jintao, the former leader of the CCP, but now the main figures of this faction, such as Li Keqiang, Wang Yang, and Hu Chunhua, are being marginalized by the Xi Jinping government. At the same time, Xu Jiayin was also treated coldly by the current Beijing government. The report cited, for example, that Xu Jiayin was rarely included in the list of awards given to celebrate the 40th anniversary of the establishment of the Special Economic Zone in Shenzhen, Guangdong Province last October, and Xi Jinping personally participated in the ceremony.
Next year, the Communist Party of China will hold the 20th National Congress to replace the top leadership. After the Beidaihe meeting, there are some rumors that Wang Yang, Hu Chunhua and others will be listed as the successors of the leadership. At the same time, Xi Jinping is making every effort to crack down on political opponents in order to seek re-election. This shows that the struggle within the Communist Party of China is intensifying. Nikkei analysis believes that on the issue of Evergrande, Xi Jinping may “choose not to help his subordinates who disagree, nor to consolidate their position.”
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