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Wen Jiabao regrets his children did business in China: sources

Sources say China's outgoing premier has told members of his party that he’s sorry he allowed his children to do business in China.

Wen jiabao new york times 20120929Enlarge
Chinese Prime Minister Wen Jiabao attends the banquet marking the 63th anniversary of the founding of the People's Republic of China on September 29, 2012 at the Great Hall of the People in Beijing, China. (Feng Li/Getty Images)

While outgoing Chinese prime minister Wen Jiabao has not publicly expressed regret that his relatives may have unfairly profited from his position while he’s been in office, local sources have reported he told members of his party that he’s sorry he allowed his children to do business in China, the South China Morning Post reported.

At a meeting in January, Wen reportedly said: “Failing to persuade my children not to do business [in China] is a significant mistake of mine. It’s my biggest regret in life.”

Wen’s son, Wen Yunsong, also known as Winston Wen, helped set up technology deals and launched a private equity firm that now has more than $2.5 billion under management after earning a master’s degree in engineering materials from the University of Windsor in Canada and an MBA from Northwestern University’s Kellogg School of Business in Evanston, Ill., the New York Times reported.

Winston Wen was one of several relatives the New York Times profiled in an Oct. 2012 article that revealed the Chinese premier’s family has accumulated assets worth at least $2.7 billion since 1998, when he became vice prime minister.

According to the South China Morning Post:

Both the English and Chinese websites of the New York Times were blocked by the Chinese government after the story was published, and remain unavailable inside China now.

Wen Jiabao grew up poor, and has regularly railed against corruption in China’s elite political ranks.

More from GlobalPost: How Wen Jiabao undermined the Party's legitimacy
 

http://www.globalpost.com/dispatch/news/regions/asia-pacific/china/130306/wen-jiabao-regrets-his-children-did-business-china-s