Titans: Shaping China's Future

Wang Yi: Diplomatic Savvy

In 2016, Chinese foreign policies became more active, confident and mature. China hosted the G20 Summit in Hangzhou, which promoted global economic governance and reforms. China enhanced the establishment of a Free Trade Area in the Asia-Pacific region during the 2016 Asia-Pacific Economic Cooperation (APEC) summit in Lima. China is also shouldering more responsibility to address global climate change. Relations between China and the Philippines made a positive breakthrough and the issue of the South China Sea has merged back onto a healthier dialogue track. Chinese Foreign Minister Wang Yi has received much of the credit.

“Hawaii is far from the U.S. mainland, but it is still the country’s territory. Sovereignty over land does not depend on distance.”

Zhou Xiaochuan: The People’s Banker

To meet the demands of the International Monetary Fund (IMF) for Special Drawing Rights (SDR), the People’s Bank of China implemented intense and high-quality reforms. On October 1, 2016, the IMF announced its inclusion of China’s RMB in the benchmark SDR currency basket, which already included the U.S. dollar, Euro, Yen and Pound. Zhou Xiaochuan, head of the People’s Bank of China, believes the RMB will become a stabilizing force in the international monetary system and promote reform of global economic governance.

“Balance the flexibility and stability of the exchange rate and firmly continue market-oriented reform of the exchange rate of the RMB.”

Jin Liqun: Development Banker

Time magazine listed Jin Liqun, president of the Asian Infrastructure Investment Bank (AIIB), as one of its “100 Most Influential People” in 2016. After 27 months of preparation, the AIIB was launched in Beijing on January 16, 2016. Since its establishment, the AIIB has adopted international standards and created a transparent management system to promote win-win ideas, proving it is not a “pawn” of China, and it will not weaken the World Bank. Jin Liqun has been largely credited for many of its successes. The AIIB Board has approved loans totaling US$509 million to develop energy, transportation and urban infrastructure in countries like Bangladesh, Indonesia, Pakistan and Tajikistan.

“Global crises can only be addressed with international cooperation.”

Meng Hongwei: President of Interpol

On November 11, 2016, the 85th Interpol General Assembly elected Chinese Vice Minister of Public Security Meng Hongwei as president of the organization. Founded in 1914, Interpol is the world’s second largest international organization after only the United Nations. Interpol is headquartered in Lyons, France, and has 190 member countries.

Chinese police have cooperated with 113 countries and participated in 82 international organizations and multilateral mechanisms.

Jack Ma: Mr. Taobao

On the 2016 Singles’ Day (an online shopping holiday created by Taobao), sales volume at Alibaba retail websites Tmall and Taobao reached 120.7 billion yuan (US$17.73 billion) in just 24 hours. Purchases made with mobile devices accounted for 81.87 percent of the total sales, which were shipped to 235 countries and regions. Alibaba again set a new world record for the largest one-day turnover on one e-commerce platform. China’s Singles’ Day has become the world’s largest online shopping day, far eclipsing “Cyber Monday” in the United States.

“The first technical revolution liberated humans from manual labor and made coal the productive material. The second technical revolution shortened distances with oil as the driving resource. The internet-based technical revolution freed minds with data as the core resource. In the future, data will be the production material and computing will be the productive force.”

Wang Jianlin: China’s Wealthiest

Wang Jianlin appeared in Time as one of its “100 Most Influential People” in 2016. U.S.-based business magazine Forbes noted that Wang, chairman of Wanda Group, has surpassed Li Kashing to become the richest Chinese person in the world with a net worth of US$28.7 billion, ranking him in the top 20 globally.

“Wanda has invested US$10 billion and employs 20,000 people in the United States. If policies hurt our operations, Wanda will be forced to cut jobs.”

Ren Zhengfei: Electronics Tsar

Ren Zhengfei started the tech company Huawei at the age of 43 and has evolved from manager of a humble firm to tycoon. Ren launched advanced enterprise management in China and maintains a sharp insight into the market.

In 1987, Ren amassed 21,000 yuan (now US$3,021) to launch Huawei Company. In 2011, Ren first made the Forbes list with a net worth of US$1.1 billion.

Ma Guoqiang: Man of Steel

On December 1, 2016, Baosteel and Wuhan Iron and Steel (Group) Corp. formally merged to form China Baowu Steel Group. The merger was meant to cut excessive capacity. China’s steel industry is an important sector in which capacity needs to be reduced. An expert in finance and investment, Ma Guoqiang is positioned to lead the group, which indicates that reform is the priority of China’s stateowned enterprises. The focus has switched from “managing the business” to “managing the capital.”

China Baowu Steel Group employs 228,000 people and holds assets totaling 730 billion yuan (about US$105 billion). Its sales volume is expected to reach 330 billion yuan (about US$47.5 billion) in 2017. Its annual output of crude steel ranks first in China and second in the world.

Yuan Geng: Reform Pioneer

In 1979, Yuan Geng (1917-2016) established the Shekou Industrial Zone, the first of its kind on the Chinese mainland, which earned him the status of the first practitioner of China’s reform and opening- up policy. In 2003, Hong Kong Special Administrative Region awarded him the Gold Bauhinia Star for his efforts to promote relations between Hong Kong and the Chinese mainland, particularly in the realms of economic development and Hong Kong’s shipping industry. On January 31, 2016, Yuan Geng succumbed to illness in Shekou District, Shenzhen, at the age of 99.

“If China wants to climb onto the world stage, it must first be more open to the world, especially welcoming positive foreign influence. China should not confine itself to a narrow mindset.”

Wu Jianmin : Witness of Chinese Diplomacy

Wu Jianmin (1939-2016) became a diplomat soon after graduating from Beijing Foreign Studies University in 1959. He served as an interpreter for Chinese leaders including Mao Zedong, Zhou Enlai and Chen Yi. He was one of the earliest Chinese diplomats to work in the United Nations after the People’s Republic of China regained its lawful seat in the international organization. On June 18, 2016, Wu died in a car accident at the age of 77. His funeral was held in Beijing’s Babaoshan Cemetery, and Chinese top leaders paid tributes.

“The present world no longer follows the laws of the jungle. Peace and development have become themes of the times—a major change for international relations.”