Xi Jinping has been president of China and secretary of the Chinese Communist Party for over ten years: here’s the biography, salary and assets of the most powerful leader in the world according to Forbes.
How much does Xi Jinping, the current president of People’s Republic of China earn? This question is always of great relevance, given the ever-increasing importance of Beijing in the global economic and geopolitical arena.
Son of one of the most formidable of the Red Princes, the group of families from which Xi Jinping descends, Xi Jinping became secretary of the Communist Party of China in 2012 and in 2013 he was appointed president of China, obtaining now a third consecutive term.
Military, engineer, politician, after having taken the exam to join the party thirteen times - in China there are exams to join the CCP - Xi managed to distinguish himself by suddenly climbing the peaks of power.
So let’s see how much Xi Jinping earns, taking a look not only at the salary received and the alleged personal wealth, but also at the biography of the Chinese leader.
Who is Xi Jinping? The biography
Member and activist of the Communist Party of China since his youth, Xi Jinping belongs to the group of Taizi, or the so-called "Red Princes", which brings together the children and grandchildren of the protagonists of the "Long March" and the victory of 1949.
Son of communist veteran Xi Zhongxun, he was exiled to Yanchuan county as a teenager following his father’s purge during the Cultural Revolution - when Mao attempted to regain his grip on the party and which saw purges of ex- revolutionaries - where he lived in a cave near Liangjiahe village, later joining the CCP where he worked at the local party secretariat.
After graduating in chemical engineering was secretary of Geng Biao, military, ambassador of the Republic and cadre of the Communist Party of China. He later held executive positions in several provinces, eventually becoming governor of Fujian in 1999.
Xi Jinping has been a member of the Party Central Committee since 2002. In 2007, when he was elected to the Political Bureau Standing Committee and headed the Party secretariat, his career took off: he became vice president of China in the 2008 and the Central Military Commission (CMC) of the Communist Party in 2010.
In 2012 he was appointed secretary of the Communist Party and reached the presidency of the Military Commission, the last step before the most important role. Indeed, in 2013 he succeeded Hu Jintao as President of the People’s Republic of China.
He was reconfirmed in 2017 by the XIX congress as leader of China and then also in 2023 for a third time, given the constitutional reform concerning the elimination of the two-term constraint for the president of the Republic approved in 2018.
How much does the president of China earn? Salary and assets
Xi Jinping and other party members had a 62% salary increase in 2015. Prior to this increase, the President of China earned about 8,000 euros a year, or about 60,000 yuan.
After the salary increase, Xi earns $22,000 annually. As for his personal wealth, at the moment there are no reliable figures on the net with Forbes magazine which in 2018 however included him in first place of the most powerful people in the world.
However, Xi Jinping remains one of the lowest paid politicians in the world, also thanks to the currency and the Chinese wage and economic situation, which Xi himself reiterated that he must continue to develop by focusing on the domestic market.
The average salary in China is around $1200. Before the salary bonus, Xi Jinping earned on average the same as a Chinese citizen, after the increase we are more than double.
Original article published on Money.it Italy 2023-03-20 11:50:00. Original title: Quanto guadagna Xi Jinping? Stipendio, patrimonio e biografia del presidente cinese
