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China ousts reformist official who called Made in China 2025 'waste'

Lou Jiwei removed from social security fund after just two years

Lou Jiwei, a former finance minister, said last month that China's flagship industrial initiative has "wasted taxpayers' money."   © Reuters

BEIJING -- Lou Jiwei has been replaced as head of China's national social security fund after criticizing the country's flagship industrial policy as having "wasted taxpayers' money," in a sign of Beijing's waning tolerance for dissent on economic issues.

Lou, a prominent reformer, spent less than two and a half years as chairman of the National Council for Social Security Fund -- the shortest stint by far in a job whose holders usually stay on for four or five years.

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