Word: penge
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...think Deng Xiaoping did the right thing? LEE: I cannot judge what he did, because I did not have his information. If, in fact, there was a danger of similar outbursts in other cities, then I think he had to move. But I said later to [then Premier] Li Peng, "When I had trouble with my sit-in communist students, squatting in school premises and keeping their teachers captive, I cordoned off the whole area around the schools, shut off the water and electricity, and just waited. I told their parents that health conditions were deteriorating, dysentery was going...
Actually the price reforms have much further to go. China at the moment has a two-tier system of state-set and market prices, sometimes on the same goods. Vice Premier Li Peng estimates that Peking still fixes prices on 70% of the products sold by state industries. There are other reminders of the heavy presence of the state. At Zhongshan University in Canton, 30% of the graduates are assigned to their first jobs by the State Labor Ministry in Peking. The remaining 70% are placed by university authorities after consultation with state industries and agencies; the graduates' wishes...
...highest-ranking new technocrats are Li Peng, 57, widely seen as China's next Premier, and Hu Qili, 56, heir apparent to the powerful post of General Secretary of the Communist Party. Both men were elevated last fall to the party's policy-setting Politburo. Li, the adopted son of former Premier Chou En-lai, is a Soviet-educated engineer who speaks Russian and has served as minister of the Chinese power industry. Hu, a fluent English speaker, runs the party's day-to-day activities...
...South China Morning Post than did Elton John, who had performed in Hong Kong that week. That's because in Asia, Li is almost royalty. Not only is she the first female boss of a foreign-listed, state-owned Chinese company, but her father is former Chinese Premier Li Peng, a controversial figure who became the public face of the Communist Party's hard line against democracy protesters in 1989. Li Peng, who stepped down last year, was also once minister of the power industry, so his daughter has dealt for years with charges of nepotism. Being his daughter "does...
...capital or technology to exploit them. When Chinese companies have a stake in oil coming out of the ground, even if it originates abroad, they will have secured long-term supplies independent of the world's fickle prices. The process of overseas exploration began in 1997, when Premier Li Peng encouraged state-run oil concerns to look for investment opportunities outside China's borders, and in the past few years, the search has ranged all over the world...