Exclusive | What Chinese vice-president told old friend from US about Communist Party’s legitimacy

John Thornton, one of few to maintain access to some of China’s most powerful officials, met Wang Qishan early this year

The Wall Street executive has no government role, but bridges the US-China divide like Henry Kissinger in 1971, source says

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Wang Qishan and John Thornton have known each other since the 1990s. Photo: SCMP Pictures

Published: 12:00am, 28 Sep 2021Updated: 1:37am, 28 Sep 2021

In late January, soon after Joe Biden entered the White House, Chinese Vice-President Wang Qishan had a long conversation with an American guest in Beijing.

John Thornton, a Wall Street veteran who had previously headed Goldman Sachs, is an old friend who had known Wang, President Xi Jinping’s right-hand man, when he was still a mid-level official in the 1990s.

The pair steered their conversation far beyond day-to-day politics and talked about Chinese and American history, the clash of civilisations and one of the most sensitive topics surrounding the two countries’ relations: the legitimacy of the ruling Chinese Communist Party.

Thornton, now the executive chairman of Barrick Gold, relayed the message of the new US administration’s priorities: fighting the pandemic, reviving the economy and reuniting a divided America. He said the personal ties between Xi and Biden could help repair relations, and that there was space for the two nations to sit down and discuss trade.

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Thornton also had a conversation with China’s top trade negotiator, Vice-Premier Liu He, and top diplomat Yang Jiechi during the trip, which paved the way for Liu’s first video call with Treasury Secretary Janet Yellen and US Trade Representative Katherine Tai, in June.

Exclusive | What Chinese vice-president told old friend from US about Communist Party’s legitimacy

John Thornton, one of few to maintain access to some of China’s most powerful officials, met Wang Qishan early this year The Wall Street executive has no government role, but bridges the US-China divide like Henry Kissinger in 1971, source says

John Thornton, one of few to maintain access to some of China’s most powerful officials, met Wang Qishan early this year

The Wall Street executive has no government role, but bridges the US-China divide like Henry Kissinger in 1971, source says