ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Politics

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.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more