！！ＦＴ一篇舊文，今天已見結果！！
太子黨建立「私募基金」:中國經濟的新型掠奪模式
貪腐已向更高層次進發：是「合法」掠奪的「財技化」（美國華爾街便如此）
太子黨透過「金融財技」沾手中國大型國企及民企，
企業收益從中被不合理地（卻無犯法）侵吞瓜分（文內有註）。
外資對國家資產的侵吞，也透過跟太子黨的私募基金合作而完成。
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【批註：溫家寶不斷喊「黨貪腐」，卻迴避「權貴」（「權金結構」）──胡溫團隊、他的謀臣智囊（所謂的自由派學者）及其子女，是把改革拖死的「利益集團」。
這群既得利益者鼓吹「市場自由化」（如張維迎），也高呼「與世界接軌」。茅于軾剛於2012年3月30日獲美國智庫研究所頒發「佛利民自由獎」及25萬美元獎金，表揚他主張中國經濟資本主義化的成就──全面的、無掩雞籠般的資本主義市場化，當然是美國為首的西方簇擁中國要走下去的「康莊大道」；最好是照搬西方的投資法律及政策傾斜，讓掠奪合法化。
現實中的世界大國全屬資本主義體制，存在強者通吃的掠奪。連「民主公義」的美國也有1%對99%之困。他們、已富的權貴當然希望「中國與世界接軌」；並最好與共產主義、社會主義的均富精神和理念「說再見」。
國內的「共富」倡議者薄熙來已被扣帽子；重慶模式被簡化為「左傾」及「文革重來」。
胡溫班子對近年社會矛盾升溫有不可推卸的責任。
溫家寶之子溫雲松創設的「新天域私募基金」是當前新型的「官商勾結」，是不公義的「權貴經濟」的最新運作模式。他們對中國資本市場的掠奪，不是以千萬及億計，是以幾十及過百億計。溫家寶知道私募基金這形式已被關注，已把兒子轉移至國企。
中國社會的民生、貧富差距沒有合理的改善，跟胡溫班子沒有用心落實「十一五」規劃有關。「十一五」規劃的過程及目標都頗為科學，問題在執行。
愈來愈明白，倡「共富」、惠民打黑的重慶模式、乃至薄熙來因何被「消音」！！
胡溫安全落任在即，卻甩下一個更複雜、更嚴峻的困境給中國。】
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http://www.ft.com/intl/cms/s/0/e3e51a48-3b5d-11df-b622-00144feabdc0.html#axzz1qYfdlvTX
March 29, 2010 10:37 pm
China: To the money born By FT Reporters
Senior officials’ children increasingly dominate private equity
http://www.ft.com/cms/s/0/e3e51a48-3b5d-11df-b622-00144feabdc0.html#ixzz1qYjHwvDy
New Horizon Capital is one of the most influential and successful participants in China’s fledgling private equity industry. It has billions of dollars under management and a stable of investors that includes Deutsche Bank, JPMorgan Chase, UBS and Temasek, Singapore’s sovereign wealth fund. But you would not guess any of that from its central Beijing headquarters.
The company has no nameplate in the lobby of the Golden Treasure Tower, a nondescript building near the Forbidden City, the traditional seat of imperial power. Its simple 12th floor offices are identified only by a small sign inside the door that reads, in Chinese, “New Horizon Growth Investment Advisory Limited”.
The company does not need flashy suites as it has one of the most valuable assets in China. He is Winston Wen, an MBA from Northwestern University’s Kellogg business school in the US who keeps a low profile and bears a striking resemblance to his father – Wen Jiabao, premier of the People’s Republic of China.
The younger Mr Wen and New Horizon are in the vanguard of a more aggressive generation of taizidang (“princelings”) – offspring of senior Communist party officials – who dominate the burgeoning home-grown private equity industry, where huge profits are to be made from restructuring state assets and financing private companies.
In 2009 private equity deals in China totalled $3.6bn, accounting for one-third of all such transactions in the Asia-Pacific region, according to Thomson Reuters. But industry participants say the potential market is far larger.
According to those working in the sector, the princelings’ ascendance is squeezing out less well connected operators, including foreign firms, which might have important consequences for two reasons. First, private equity could play an important role in modernising the economy, channelling funds to promising but capital-starved companies – but those benefits will be felt only if the industry is run in a professional and competitive manner.
Second, some in the political establishment fear that princeling dominance of private equity could exacerbate public perception of nepotism and misrule at the top of the Communist party. In an opaque authoritarian system lacking the popular legitimacy of a democracy, such fears are hard to dismiss. A recent online opinion poll by the People’s Daily, the party’s official mouthpiece, found that 91 per cent of respondents believe all rich families have political backgrounds.
In an interview with the same newspaper, the former auditor-general said the fast-growing wealth of officials’ children and relatives “is what the public is most dissatisfied about”. Li Jinhua, widely respected as the senior graft-busting official between 1998 and 2008, told the paper this month: “From the numerous cases currently coming to light, we can see that many corruption problems are transacted through sons and daughters.”
Many of the elite’s children are western educated and, over the past 15 years, dozens have been recruited by western companies and banks hoping to secure an entry into the Chinese market and win mandates to take state-owned companies public in New York or Hong Kong. As most foreign investors know, employing the relative of a senior party leader as an adviser or employee can help cut through bureaucratic obstruction and resistance from local interest groups.
But today those institutions and investors are scrambling to invest in the private equity funds of princelings who would once have been on their payroll. “In the past, the best option for these people with ‘background’ was to go to the high-paying western investment banks but now the economic strength has shifted,” says one person in the private equity industry, asking not to be named because of the sensitivity of the topic. “Now they’re saying to the foreigners, ‘Hey, I’m in the driving seat, I have all the deals – so you give me your money and I’ll invest it myself and take a big cut’.”
Prominent private equity princelings include George Li, a former banker at Merrill Lynch and UBS with an MBA from the Sloan School of Management at the Massachusetts Institute of Technology, whose father, Li Ruihuan（李瑞環）, was one of the country’s senior leaders from the late 1980s until 2003. Another son, Jeffrey Li, recently resigned as China head of Novartis, the pharmaceuticals group, to go into private equity, according to people familiar with the matter.
Wilson Feng, who bankers and private equity investors say is the son-in-law of Wu Bangguo（吳邦國） – officially second in the party hierarchy – left Merrill Lynch two years ago to launch a fund with ties to the state-owned nuclear energy conglomerate, according to media reports and people familiar with the matter. Mr Feng was key to securing Merrill’s mandate to take Industrial and Commercial Bank of China public in Hong Kong in 2006 in the biggest initial public offering in history.【按：不少國有銀行及國企上市時，外資都以「策略性伙伴」方式賤價入股，上市後尤其是此文刊出之後的2011及2012年，這些以美資為主的「策略性伙伴」都因美國缺錢而高價套現（他們也有能力透過對沖基金在要套現前推高股價）──中國上市銀行及國企成了他們的提款機，過程完全合法！！問題是，在中國經濟缺乏對「華爾街模式」的認知之下，外國「基金」已透過太子黨擁有或掌管的基金、合法地（中國相關法規遠未成熟）對中國資本進行財技化的掠奪。】
Other private equity princelings include Li Tong, daughter of Li Changchun（李長春）, the member of the nine-strong ruling Politburo standing committee in charge of propaganda and the media. Ms Li now runs a private equity fund at Hong Kong-based Bank of China International focusing on the media sector, according to three people familiar with the matter. Stanford-educated Jeffrey Zeng, son of Zeng Peiyan, former vice-premier, has also set up a fund affiliated with state-owned financial institutions.
“This is turning into a crucial moment for the financial industry in China,” says the head of a foreign bank in Beijing.“But we are very worried that foreigners and other skilled Chinese are being shut out by a string of princelings and other very well-connected people trying to dominate [the private equity] market.”
The government has been encouraging the creation of a home-grown private equity industry in recent years but approvals to set up funds are tightly controlled and investments often require them from numerous state agencies. Having the relative of a top leader in its management team can help fledgling funds overcome these hurdles.
Princelings have long been suspected of leveraging parental political power for personal gain; the topic was a source of public anger during the 1989 Tiananmen Square student protests that ended in a bloody military crackdown. But Beijing political insiders say two men led the way for the ambitious new generation, fostering the modern perception of close ties between money and political power.
Levin Zhu, son of former premier Zhu Rongji（朱鎔基）, and Jiang Mianheng, son of former president Jiang Zemin（江澤民）, are familiar to many foreign investors, having worked for or set up joint ventures with several large western companies. Their fathers helped push through some of the past two decades’ most important market-based reforms, including World Trade Organisation membership.
Mr Zhu has a PhD in meteorology from the University of Wisconsin-Madison. Following a stint at Credit Suisse First Boston in New York, he returned to China in the late 1990s and orchestrated a virtual takeover of China International Capital Corp, a joint venture in which Morgan Stanley holds about 34 per cent.
Mr Jiang boasts a PhD in electrical engineering from Drexel University in Philadelphia. Returning to Shanghai in the early 1990s he was courted by foreign investors who saw him as the country’s most valuable joint venture partner. Today, he controls Shanghai Alliance Investment Limited, a government investment company operating much like a private equity firm.
With their parents both out of formal office since 2003, the influence of Mr Jiang and Mr Zhu has waned. But as children of the “third generation” of technocratic leaders, they are seen to have paved the way for the current wave of princelings. “Those two really helped create the image of Red families running this country for their own benefit,” according to one person who deals closely with many princeling families. “Their actions have given all the younger generation a green light to go out and aggressively build their own buckets of gold, no matter what the consequences for the image of the party or the leadership.”
By squeezing out foreigners and other competition, dominance of the private equity sector by princelings will bring few benefits in terms of management skills or financial discipline, some analysts and industry participants say.
“Private equity is a very good area for princelings because with these sorts of connections you can get into companies ahead of their IPOs and make a lot of money in a short space of time,” says Professor Victor Shih of Northwestern University. “It is an easy way to make money because everyone will be willing to back them because of their connections. Everyone will do it willingly in order to potentially get favours from senior leaders in return.”
People close to several private equity princelings say they often feel they are victims of reverse discrimination; that no matter how smart or hard-working they are, the public will assume their success relies purely on nepotism. However, some important operators in the Chinese sector, while benefiting from family links, are seen in the industry as well qualified in their own right. One such person is Liu Lefei, son of Liu Yunshan（劉雲山。中宣部部長）, head of the party’s central propaganda department. The younger Mr Liu previously managed Rmb1,000bn ($147bn; €109bn; £98bn) as chief investment officer for state-owned China Life Insurance and has taken over the reins of the state-controlled Citic private equity fund.
The Financial Times was unable to reach some of the individuals named in this article or their companies, and those who were contacted refused to comment.
Because it can prompt public dissatisfaction and accusations of nepotism, information about the private lives and business dealings of leaders and their offspring often falls within the scope of vague and wide-ranging state secrecy laws, regularly used to silence critics of the regime. Even the existence of leaders’ relatives is usually a well-guarded secret. Internet searches on princelings and their activities are usually blocked in China.
Most live in luxurious gated communities around Beijing and maintain holiday homes around the country and the world. Spouses are almost never seen in public. Younger, less discreet, princelings can be identified in Beijing by their luxury sports cars with military or paramilitary licence plates, which allow them to ignore traffic regulations and avoid being stopped by the police.
But the princelings themselves face a dilemma. If their business activities are too successful or high profile they may damage the political fortunes of their powerful parents, even without specific allegations of inappropriate dealings or special privileges.
Some analysts and industry insiders foresee a situation where the scions of powerful political families use the private equity industry to carve up parts of the economy at the expense not only of foreign investors but also of the older generations of princelings with direct bloodlines to China’s revolutionary Communist party founders.
But the constant jockeying for position within the party behind closed doors in Beijing is set to intensify as the next big leadership transition approaches in 2012. Some analysts say the private equity activities of the more aggressive younger princelings could be used by political enemies as a weapon against their parents.
In the case of Winston Wen, “You have to wonder if this will leave Wen [Jiabao] open to some sort of blackmail if his son has such a high-profile position in the financial sector, where all sorts of favours might be offered”, says Mr Shih. “What if someone gets some dirt on Winston Wen?”【按：溫家寶知道私募基金這形式已被關注，現已把兒子安全地轉入國企。是「商而優則士」，仍留在官商「勾結」的系統內，身份卻安全多了。】
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以下是中文分析。
溫雲松、李振智等中國新一代太子黨旗下的私募基金掃描
Posted on March 4, 2011 by caoy2003
温云松虽非常低调，新天域却发展迅速。在温云松的带动下，新一代太子党在中国本土兴起的私募股权投资基金行业裡佔据著主导地位，都通过重组国家资产获取暴利。综合《华尔街日报》及英国《金融时报》的相关报道，太子党私募大军有如下一些人物：
李瑞环儿子李振智（George Li），曾替美林夺得集资额四十亿美元的中国电力国际上市承销生意，后被瑞士联合银行挖角聘任该行亚洲投资银行董事总经理，年薪超过一千万美元。
李瑞环次子李振福（Jeffrey Li），今年初自创私募基金“德福资本”，发展与环保有关的绿色金融，除自任德福首席执行官外，又是国际组织“大自然保护基金”中国区理事。
吴邦国女婿冯绍东（Wilson Feng），承销工商银行在香港上市的项目，成为历史上最大的首次公开发行（IPO）。后出任中广核产业投资基金总经理，以私募股权基金方式集资，预定总集资额100亿人民币，首期已集得70亿人民币。
李长春之女李彤（Li Tong），掌管香港中国银行属下一间私募基金，业务集中于媒体领域。
曾培炎之子曾之杰（Jeffrey Zeng）是北京「开信创业投资管理公司」总经理兼管理合伙人，同时也是中特物流股份公司董事长。
刘云山的儿子刘乐飞，是“中信产业基金”的董事长兼ＣＥＯ。此前，刘乐飞曾是中国人寿投资部总经理和首席投资官，管理过1万亿人民币的资金。中信产业基金由中信证券和中信集团创立，于2008年6月成立。
……
温云松的私募基金，成立于2005年。
第一期新宏远创基金成立时间为2005年5月，登记注册地为英属西印度开曼群岛。基金的有限合伙人是新加坡淡马锡投资控股有限公司与 SBI 控股株式会社。
基金首期投资规模为1亿美金。基金投资领域主要包括：国内化工、能源、多媒体、高科技、消费品、医药和汽车零配件等前景行业的优质公司，重点投向上述行业中具有市场领导地位、良好增长性、高效能管理团队的上市公司的非流通股权及上市计划明确的拟上市公司的股权。
据价值中国网站2008年1月2日转载的《投资与合作》杂志“新天之域”一文介绍，新宏远创基金在一年半时间内全部投放完成，包括製造业、新能源、化工、生物製药等十个项目。到2007年底，已有3家公司完成海外上市，2家为A股上市公司，另有5家公司已完成海内外上市前的淮备工作。
第二期新天域资本成立于2007年5月，基金规模为5亿美元。新天域资本成立于2007年5月，基金的投资人由20多家国际知名的机构组成，包括德意志银行、摩根大通、瑞士银行，和新加坡总理李显龙夫人何晶主持的淡马锡控股公司，以及日本企业家孙正义旗下的日本软件银行。
基金投资领域主要包括：製造业、新能源、消费品、生物医药及汽车零配件等产业，重点投向上述行业中具有市场领导地位、良好增长性、高效能管理团队的成长型公司。
业内人士相信，新天域二期基金的账面收益也十分可观。
目前，基金第三期已经开始运作。据腾讯财经讯 2008年6月18日报道，新天域资本董事周颖华做客腾讯财经会客厅时对外透露，“一期基金投资回报丰厚，二期基金的账面收益也十分可观。 ”“新天域目前正在募集第三期美元基金和一支人民币基金，前者的规模肯定会超过二期基金的5亿美元规模，而后者将超过10亿元。”
前述《金融时报》曾透露，新天域正在募集第三期美元基金超过10亿美元，投资于淮备IPO的中国行业龙头。报道还引用知情人士消息称：“目前已为该基金筹得6亿至7亿美元资金，投资者包括日本软库（SBI Holdings Inc.）和新加坡淡马锡等。”
但随后新天域对外否认了这一点。据《21世纪经济报道》 2010年1月26日报道，新天域资本一人士向记者澄清称，实际上传闻中的这只基金早在2008年就已经开始募集了，并且其规模也不是10亿美元，至于投资方向，则会秉持稳健、成长型的公司，而不仅限于淮备IPO的中国行业龙头公司。但是，该人士没透露目前该基金募集到了多少资金，也没有透露基金的目标规模和出资人。
2010年2月1日《华尔街日报》《中国“太子党”与私募基金》一文中说：“温云松在亲缘关系上的独特优势使卖方和投资人都获益匪浅。此外，新天域资本还建立了一隻人民币基金，以充分利用政府对本土基金的扶持政策。”
公开材料称， 这只人民币基金叫“新远景成长基金”。
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温云松将任中国卫通公司董事长 太子党掌国企成趋势
http://www.wenxuecity.com/news/2012/02/21/1648438.html
文章来源: 联合报 于 2012-02-21 20:01:52 -
中共总理温家宝之子温云松，日前出任中国卫通公司董事长。大陆官方媒体昨天罕见地发布消息，中共太子党出掌国企要职，再度成为大陆社会关注的焦点。
中国卫星通信集团公司网站廿日的消息显示，经董事会会议，选举温云松担任中国卫通公司董事长。
中国卫通十年前成立，是大陆国资委管理的中央企业，也是大陆六大基础电信运营商之一，从事卫星营运服务，从电视频道上卫星到车载GPS定位系统都涵盖，据说该公司也与台湾有业务往来。
中新社报导，到2015年，该公司将拥有十五颗卫星，营业收入能达到一百六十亿元人民币，成为亚洲最大、世界一流的卫星运营公司。
中共「太子党」除了在政界、军界出任要职，进入国有企业担任要职，似乎成为一种趋势。
诸如，胡锦涛之子胡海峰，先是担任清华控股党委书记，如今担任清华长三角研究院院长；李鹏之女李小琳出任大陆国有电力公司董事长；江泽民之子江绵恒掌控上海网通、上海机场、上海汽车工业等公司。
温云松毕业于美国西北大学凯洛格商学院，在商海翻滚多年，为人虽然低调，但争议也不少。媒体报导，2005年他曾与人合作创办私募基金新天域资本公司，募集资金达十亿美元。
2010年三月，英国金融时报将投身「金钱游戏」的太子党，称为中国金融行业的「红小兵」，并披露温云松当时任职的新天域资本，是私募基金当中最有影响力和最成功的一家，指该公司管理的资金达数十亿美元，其稳定的投资者包括德意志银行、摩根大通、瑞士银行，以及新加坡的主权财富基金淡马锡。
2010年十月，为了避嫌，温云松离开新天域资本，转投入中国航太科技集团下属公司─中国卫通公司出任副董事长。不过，外传他在新天域仍有自己的投资。
除了温云松，前任总理朱镕基儿子朱云来，前政治局常委李瑞环的儿子李振智，现任政治局常委李长春之女李彤，以及全国人大委员长吴邦国的女婿等，都是金融界「红小兵」的一员。
与李鹏的子女不同，温云松很少出现在大陆媒体报导中。昨天中新社罕见地发布温云松出任中国卫通公司董事长的消息，有些令人意外。温云松出任中国卫通董事长的消息传出后，立即在大陆微博引起疯狂转发，同时也引发一些议论，有大陆网友感叹说，「这果然是个拼爹的时代」。
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