Jiang Zemin, a former president of China, died on November 30 at the age of 96. Leukemia and numerous organ failure caused the leader’s death. Following the 1989 Tiananmen Square demonstrations, Zemin ascended to power. From 1993 to 2003, he presided over China as president.
The politician was praised for the significant economic expansion his nation had while under his leadership. Zemin had a protracted political career and amassed a sizable fortune for himself. Here is all the information we have on his earnings and net worth.
Jiang Zemin Net Worth
Jiang Zemin’s estimated net worth was $5 million at the time of his passing in November 2022. Since the lives of China’s top leaders are typically kept private, the precise amount of his wealth has not been revealed. Zemin also belonged to the Chinese Communist Party, which is well known for emphasising communal wealth.
In 1926, when China was ruled by the Japanese, Jiang Zemin was born in Yangzhou, Jiangsu. Zemin succeeded Jiang Shangqing, his foster father and uncle, who died in 1939 after opposing the regime. He earned a bachelor’s degree in electrical engineering from National Chiao Tung University in 1947.
Zemin joined the Chinese Communist Party while still a student. He joined the CCP Central Committee in September 1982 during the 12th Party Congress. The Politburo members are chosen by the committee, which also develops policies.
Rise to Power and Leadership
Zemin was appointed Shanghai Party secretary in October 1987, making him the city’s most powerful official. Following the death of Hu Yaobang in 1989, Tiananmen Square protests broke out, and the CPP chose Zemin over Zhao Ziyang to become its new general secretary. The new leader was chosen to bring together conservative and liberal groups.
Under his direction, the CCP tightened its grip on China, which experienced significant economic growth and became a major world power. China integrated itself into the global economy by becoming a member of the World Trade Organization in 2001. Additionally, in 1997, Zemin oversaw the peaceful handover of Hong Kong from Britain to China.
Jiang tried to improve relations with the US while he was president by travelling there frequently and having one-on-one conversations with George W. Bush. Zemin came under fire for his crackdown on Falun Gong in 1999 because he thought it was covertly “infiltrating the CCP and state apparatus.”
Retirement from Politics
After the CCP’s 16th National Congress in 2002, Jiang Zemin began gradually stepping away from politics. Hu Jintao succeeded him after he resigned as general secretary and left the Politburo Standing Committee.
His career came to an end when he resigned as chairman of the state’s Central Military Commission in March 2005. He nevertheless kept appearing in official capacities. Zemin was renowned for having a flamboyant personality, which is uncommon for Chinese leaders.
