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Wen Jiabao Family Linked to Billions in Assets, NYT Reports

Chinese Premier Wen Jiabao’s extended family has controlled assets worth at least $2.7 billion, the New York Times reported, citing corporate and regulatory records and unidentified people familiar with the family’s investments.

Among them is a holding in the name of Wen’s mother, Yang Zhiyun, in Ping An Insurance Co. that was valued at $120 million in 2007, the newspaper reported, citing public records, government-issued identity cards and an ownership trail to three investment entities. Cecile Zhang, a public relations official at Ping An, said she couldn’t immediately comment, and Ping An spokesman Sheng Ruisheng didn’t answer a call to his mobile phone.