Billionaire Xiao Jianhua suddenly disappeared this week from Hong Kong, triggering off rumors of him being kidnapped into mainland China. The South China Morning Post says it received confirmation. China´rich list expert Rupert Hoogewerf or Hurun gives in AP some background on this business partner of some of Xi Jinping´s relatives.
A wide-reaching anti-corruption crackdown led by Chinese President Xi Jinping has snared dozens of executives at state companies. Chinese state media said in 2013 that Xiao controlled nine publicly listed companies and had stakes in more than 30 financial institutions.
The New York Times reported in 2014 that a company Xiao co-founded paid $2.4 million to buy shares in an investment firm held by Xi’s sister and brother-in-law.
Rupert Hoogewerf, the Hurun Report’s publisher, said Xiao holds the reputation of a “maverick visionary” who makes major decisions on his own and has gone to lengths to obscure Tomorrow Group’s holdings, which include banks and securities companies.
“He’s one of the kings of capital of China,” Hoogewerf said. “There’s not many people moving money in the same way.”
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