Posted by IDQWE001 > 2023-12-09 21:11 | Report Abuse

Wu Xiaohui - Anbang Insurance Group

Anbang Insurance Group initially denied media reports in June 2017 that their then-chairman Wu had been barred from leaving the country before it later said he was temporarily unable to fulfil his duties, citing personal reasons.

Anbang had pursued a string of high-profile foreign acquisitions worth over $30 billion under Wu, including its 2015 purchase of New York's landmark Waldorf Astoria hotel.

In late March 2018, Wu was put on trial on charges of fraud and embezzlement. In August that year he was sentenced to 18 years in jail and 10.5 billion yuan of his assets were confiscated.

Posted by IDQWE001 > 2023-12-09 21:11 | Report Abuse

Ye Jianming - CEFC China Energy

Ye, the former chairman of the once high-flying conglomerate CEFC China Energy, disappeared from public view in March 2018 and a source familiar with the matter told Reuters at the time that he was taken into questioning.

Shares and bonds related to CEFC China Energy plunged on the news, which was first reported by Chinese magazine Caixin. His whereabouts have since not been disclosed although he has been named in graft trials of senior Communist Party officials and state bank executives.

Posted by IDQWE001 > 2023-12-09 21:13 | Report Abuse

Detained, missing or under investigation: Business leaders in China face an ‘aggressive’ crackdown

Hong Kong
CNN
—
Business leaders in China are under immense pressure, as the country’s leader Xi Jinping intensifies a regulatory crackdown on companies and strengthens its control of the economy.

This year, more than a dozen top executives from sectors including technology, finance and real estate have gone missing, faced detention or been subjected to corruption probes.

Even international consulting firms have been caught up in the sweep. They face rising risks, including the possibility of police raids and detentions of staff, in the world’s second largest economy.

Posted by IDQWE001 > 2023-12-09 21:14 | Report Abuse

A sudden disappearance
Just this week, the Cover News, a state-owned media outlet, reported that the founder and CEO of DouYu, a Chinese live-streaming service backed by Tencent, had been unreachable in recent days, citing unconfirmed reports that he was being investigated.

It didn’t say which authorities were behind the possible investigation.

Another state-owned outlet, the Paper, reported that Chen had been missing since October.

A DouYu spokesperson told CNN that its “business operations remain normal,” adding that it would announce “any significant news or material activities” in a “timely manner.”

Posted by qqq47660 > 2023-12-09 21:15 | Report Abuse

No Taiwan dpp more peace in the world

Posted by IDQWE001 > 2023-12-09 21:15 | Report Abuse

Another executive, Zhao Bingxian, a business man dubbed “China’s Warren Buffett” because of his reputation for making lucrative investments, was detained by authorities, his company, Wohua Pharmaceutical, said on Monday.

Zhao was assisting supervisory and anti-corruption agencies in investigations, the Shenzhen-listed company said in an exchange filing, without elaborating. The investigation was not related to the company, it said.

Posted by IDQWE001 > 2023-12-09 21:16 | Report Abuse

Zhao is chairman of Wohua Pharmaceutical and several other listed companies. A former banker, he has invested in a series of Chinese companies since 2000 and brought their shares to the public markets in mainland China and Hong Kong.

Earlier this year, Chinese officials had signalled that they would wind down their campaigns against tech and financial companies as part of a policy shift intended to focus on economic growth.

But Guthrie said this type of “aggressive corporate governance” was still going on and would continue into the future.

“Beijing will use selective cases to send signals to the market that behaviours and practices that do not fit with the central government’s goals will not be tolerated,” he said. “The cases of DouYu and Shandong Wohua are very clearly part of this continuing trend.”

Posted by IDQWE001 > 2023-12-09 21:16 | Report Abuse

Other top business leaders have also been facing scrutiny.

In a brief statement on Wednesday, the Central Commission for Discipline Inspection (CCDI) and the National Supervisory Commission said Zhou Zheng, former deputy general manager of COFCO Group, China’s largest state-owned food manufacturer and processor, was being investigated.

Posted by IDQWE001 > 2023-12-09 21:17 | Report Abuse

CCP country of practising of "disappearing" . Communism worse than 3rd world countries a power crazy dictatorship evil.

Posted by IDQWE001 > 2023-12-09 21:17 | Report Abuse

Zhou was “suspected of seriously violating rules and laws,” the two anti-corruption watchdogs said, without giving further details.

The probe into Zhou follows a similar investigation into Zhang Hongli, a former senior executive at the Industrial and Commercial Bank of China, one of China’s “Big Four” lenders, according to the CCDI.

Bao Fan, a star investment banker and tech dealmaker, was also caught up in the sweep. In May, Chinese state media reported that Bao had been in the custody of the anti-graft agency since his disappearance in February.

So far this year, the commission has already investigated more than a dozen senior executives at the country’s most important financial institutions, according to a previous CNN analysis of statements posted on the CCDI’s website.

Posted by IDQWE001 > 2023-12-09 21:17 | Report Abuse

CCP country of practising of "disappearing" . Communism worse than 3rd world countries a power crazy dictatorship evil.

Posted by qqq47660 > 2023-12-09 21:19 | Report Abuse

Jiang Jemim Hu jintao era is known as the cowboy era...u know why?

Posted by IDQWE001 > 2023-12-09 21:19 | Report Abuse

Rising Trend of Executives Disappearing from Publicly-Traded Companies in China

In China, a troubling trend is emerging in 2023, with an increasing number of high-ranking executives from publicly-traded companies mysteriously disappearing. This unsettling phenomenon is causing unease among investors and impacting stock prices. Companies are being forced to issue warnings about their inability to contact their presidents or chief executive officers, often linked to detentions by authorities.

Posted by IDQWE001 > 2023-12-09 21:20 | Report Abuse

Unexplained Absences
Two Chinese companies, one focused on children’s fitness and another in the agricultural sector, reported the disappearance of their presidents in November. These cases add to the growing list of disappearances this year, including executives from a live streaming platform and a pharmaceutical company. The Chinese authorities seldom publicly confirm these detentions, as exemplified by the case of Xiao Jianhua, a businessman kidnapped in 2017 and jailed in 2022, whose facts were confirmed by Canada.

Posted by IDQWE001 > 2023-12-09 21:20 | Report Abuse

Debt and Real Estate
Missing executives often come from companies with high levels of debt, particularly from the real estate sector, which has experienced massive defaults recently. This situation is exacerbated by the slowdown of the Chinese economy, increasing the probability of corporate bankruptcies and the disappearance of more executives.

Posted by IDQWE001 > 2023-12-09 21:21 | Report Abuse

CCP country of practising of "disappearing" . Communism worse than 3rd world countries a power crazy dictatorship evil.

Posted by IDQWE001 > 2023-12-09 21:21 | Report Abuse

Impacts and Future Implications
The phenomenon of disappearing executives creates uncertainty in the market, impacting investor confidence and causing stock prices to fluctuate. It also presents a challenge for the companies left leaderless, impacting their operations and strategic direction. With the ongoing economic slowdown in China, the prevalence of high levels of corporate debt, and the recent spate of defaults in the real estate sector, the trend of disappearing executives is anticipated to continue, adding another layer of complexity to China’s economic landscape.

Posted by qqq47660 > 2023-12-09 21:22 | Report Abuse

People in China prefers the xijnping era compare to the Jiang and Hu era

Posted by IDQWE001 > 2023-12-09 21:24 | Report Abuse

The case of China’s vanishing chairmen

“We have lost contact with our chairman,” is an awkward disclosure from the board of a listed company to its investors. It can lead to a collapse in the share price. In China the resulting confusion can persist for months, casting a shadow over the company’s future. Such announcements have become so common this year that a state-owned newspaper, Securities Times, has offered advice to directors dealing with a disappearance. “Don’t be coy when it comes to disclosing these matters,” the paper said in November. It reminded firms that they have a responsibility to keep investors informed of any major incidents affecting their operations. This includes an inexplicably uncontactable chairman or chief executive.

Two separate listed Chinese companies—a children’s-fitness firm and an agricultural one—warned investors on November 29th that their chairmen had vanished without a trace. The fitness company, My Gym Education, said that it “tried communicating via phone and WeChat messaging but could not reach Wang Hongying”, its chairwoman. “After communicating with her family, the company has been unable to determine the reason for the loss of contact with her.”

Posted by qqq47660 > 2023-12-09 21:26 | Report Abuse

Zelenski of Ukraine Dpp Taiwan...people of same ugly genes

Posted by IDQWE001 > 2023-12-09 21:27 | Report Abuse

The list of high-profile executives in China that have been investigated, face exit bans, or have just gone missing, keeps growing

Under Xi Jinping’s leadership, authorities have cracked down on private sector companies, raided the offices of major firms, slowed the approval of deals, and targeted a slew of high-profile executives. Many of these leaders have been subject to investigation, barred from leaving the country, placed under surveillance, or have even gone missing.

Posted by IDQWE001 > 2023-12-09 21:27 | Report Abuse

CCP country of practising of "disappearing" . Communism worse than 3rd world countries a power crazy dictatorship evil.

Posted by qqq47660 > 2023-12-09 22:22 | Report Abuse

Hypocrite say one thing do another thing. That is not China that is America media America politicians

Posted by qqq47660 > 2023-12-09 22:34 | Report Abuse

I am not convinced by words. Especially from anti China media.

I am convinced by action

Posted by IDQWE001 > 2023-12-09 23:38 | Report Abuse

Michael Chan, managing director for the US risk-advisory firm Kroll, has been blocked from leaving the country over the past two months by an exit ban.

Chan — who is based at Kroll’s Hong Kong division — first arrived in mainland China back in July, according to the Wall Street Journal. He’s currently assisting authorities in an investigation (where he is not the target) while continuing to work, the Journal said. At Kroll, Chan focuses on insolvencies and corporate restructuring according to his biography on the firm’s website. It also notes that Chan has “extensive experience” investigating fraud, false financial statements, and defalcation (the misuse of funds by someone entrusted with them) and establishing recovery strategies for creditors.

Posted by IDQWE001 > 2023-12-09 23:39 | Report Abuse

Charles Wang Zhonghe, a senior banker at Japanese firm Nomura, was recently barred from leaving China.

Within the country, however, Wang has leeway to move freely, the Financial Times reported, citing people familiar with the matter. The Wall Street Journal also noted that he can still be contacted.

The exit ban placed on Wang is tied to a larger investigation that has implicated Bao Fan and Cong Lin, top bankers at Chinese investment bank China Renaissance, according to the FT. Wang — who started off his career on Wall Street in the ’90s — has been based in Hong Kong for the past several years, according to his LinkedIn profile.

Since 2018, he’s been chair of investment banking for China at Nomura’s Hong Kong branch, according to LinkedIn. Prior to that he was Deputy CEO of ICBC for five years, and spent almost six years before that at Deutsche Bank as managing director and heading global banking for China, based on LinkedIn.

Posted by IDQWE001 > 2023-12-09 23:39 | Report Abuse

Hui Ka Yan, chairman of Evergrande, one of China’s largest real estate developers, is under police control.

Hui is under suspicion by authorities who believe he may have committed crimes, according to multiple outlets.

He was taken by Chinese authorities earlier this month and is being monitored under “residential surveillance” which is a type of police action that falls shy of a formal arrest, according to Bloomberg. He’s reportedly at a location in Beijing, the Wall Street Journal said, citing a domestic Chinese outlet.

Hui grew up in a rural working class family in north central China, and worked at a steel factory for 10 years before founding Evergrande in 1996. The company eventually became China’s second largest real estate developer and helped Hui earn a spot on Bloomberg’s billionaire list. Evergrande, however, also became the world’s most indebted property developer. By 2022, it had racked up almost $340 billion in liabilities and filed for bankruptcy this August.

Posted by IDQWE001 > 2023-12-09 23:40 | Report Abuse

Bao Fan, the CEO and cofounder of Chinese investment bank China Renaissance, disappeared in February.

When Bao disappeared on February 16, China Renaissance issued a disclosure stating that they were unable to contact him, which also sent their stock prices plunging.

It was only several weeks later that the bank filed a statement with the Hong Kong stock exchange acknowledging that they had “become aware” that Bao was “currently cooperating in an investigation being carried out by certain authorities in the People’s Republic of China.He’s likely involved in a corruption probe linked to Cong Lin, the former president of China Renaissance, who has been under investigation by authorities since last September, according to Chinese financial news outlet Caixin. Bao, often referred to as one of China’s top tech dealmakers, worked at Credit Suisse, Morgan Stanley, and software company Asiainfo, before launching China Renaissance in 2004, according to his LinkedIn profile.

He’s earned a name through working with major Chinese companies. He reportedly closed the merger of food delivery group, Meituan, with restaurant rating platform Dianping, by “locking both sides in a hotel room for a day” according to the Financial Times. In a post he wrote for Insider back in 2017, Bao said that China was “the biggest competitor for Silicon Valley in the marketplace of ideas” and noted that Chinese authorities were “showing surprising tolerance for business model innovation.”

Posted by IDQWE001 > 2023-12-09 23:40 | Report Abuse

Chen Feng, chairman of Chinese conglomerate HNA and chief executive Adam Tan, were detained in 2021 over suspected crimes.

Even before their arrests, though, the two had largely disappeared from the public eye. Chen was barred from taking flights and traveling by high-speed rail while Tan’s name had last appeared on a company statement in 2018, the Financial Times reported. Little has been reported about the two in the years since.

Their company, HNA, initially started as an airline and eventually became a travel-focused conglomerate that had snapped up more than $50 billion in acquisitions, many of which were made at a high premium. The company had stakes in Hilton, Dutch transport group TIP Trailer Services, and Irish aircraft leaser Avolon, according to the Financial Times.

By the time the pandemic hit, though, the company was up against billions in debt and teetering on the brink of collapse. After being effectively taken over by the Hainan provincial government in 2020, the company was placed under bankruptcy administration in 2021. The company went through two years of corporate restructuring under official oversight, according to Bloomberg.

Posted by IDQWE001 > 2023-12-09 23:41 | Report Abuse

CCP country of practising of "disappearing" . Communism worse than 3rd world countries a power crazy dictatorship evil.

Posted by qqq47660 > 2023-12-10 00:18 | Report Abuse

they got such poor track records, nobody believes what they write.

Posted by angrycat > 2023-12-10 03:15 | Report Abuse

This anti China propagandas are meant to induce internal rebellion or colour revolution in China , HK or for election campaign in Taiwan , copy and paste them in I3 Investment forum for Malaysia, just lost its purpose. I don't think many will read , I surely don't

Posted by IDQWE001 > 2023-12-10 06:56 | Report Abuse

Property tycoon, Ren Zhiqiang, was sentenced to 18 years in prison in 2020.

Ren first went missing in March 2020 after accusing the Communist Party of mishandling the coronavirus pandemic in an essay where he also referred to President Xi Jinping as a “clown.”

Shortly thereafter, he was stripped of his Communist Party membership, detained, and put under investigation by China’s Discipline Inspection Commission, which looks into alleged corruption and violation of party discipline, according to the Financial Times.

That September, he was sentenced to prison in a one-day trial, according to the FT, which also reported that the court said Ren was “found guilty of charges including bribery, embezzlement of public funds and abuse of power.” His peers, however, contend that he was sentenced because of his critical essay.

Ren, who was 69 at the time of his sentencing, had been involved in a number of “high-profile projects” across Beijing, according to the FT. He grew up as the “privileged princeling son” of an official in the Chinese communist party and his “red pedigree” via his connections with government officials enabled him to speak out more candidly than his peers, the FT said.

Posted by IDQWE001 > 2023-12-10 06:56 | Report Abuse

Anbang Insurance Group’s founder and former chairman, Wu Xiaohui, was detained and subsequently sentenced to 18 years in prison.

Wu was sentenced to prison in May 2018 on charges of fraud and embezzlement.

Yet, he had already been placed under investigation by authorities the prior June after a string of multi-billion dollar acquisitions Anbang had made, according to the state-run China Star Daily.

The massive financial firm had agreed to buy the famed Waldorf Astoria Hotel in New York in 2014 for close to $2 billion. In 2016, it agreed to shell out $6.5 billion to buy a portfolio of hotels from Blackstone. The company was even on track to drop $14 billion on Starwood Hotels and was even in talks with Jared Kushner to strike a $4 billion deal with his family business, Kushner Industries — both of which never came to fruition.

Wu, founded Anbang in 2004 and was once regarded as one of the most politically connected men in China due to his marriage to the granddaughter of former communist party leader Deng Xiaoping, the BBC reported.

Posted by IDQWE001 > 2023-12-10 06:56 | Report Abuse

Chinese-Canadian billionaire, Xiao Jianhua, was sent to jail on corruption charges in 2022.

Xiao was sentenced to 13 years in prison and his corporate conglomerate, Tomorrow Group, was fined RMB 55.03 billion, or approximately $8 billion, after pleading guilty to bribery, illegally using funds, and other charges, according to a ruling from the Shanghai First Immediate People’s Court. Xiao, himself, was also fined RMB 6.5 million, or around $1 million, based on the court’s ruling.Xiao’s appearance at the trial also marked his first public sighting since authorities took him from the Four Seasons Hotel in Hong Kong in February 2017, according to Bloomberg. He had been living since fleeing China years earlier, Bloomberg reported.

Xiao, who was born in China, passed the examination for the highly selective Peking University at the age of 14, according to The New York Times. He graduated with a degree in law, and sold personal computers, before founding Tomorrow Group in 1999, according to Caixin. The conglomerate eventually grew to have stakes in businesses across banking, securities, insurance, coal and real estate, Caixin reported.

By 2017, Xiao amassed a fortune of close to $6 billion according to the Hurun Report, which tracks China’s billionaires, though a person close to Xiao told The Times the report vastly understated his wealth.

He became a Canadian citizen around 2008 and also has a diplomatic passport to Antigua and Barbuda, according to Global News.

Posted by IDQWE001 > 2023-12-10 06:57 | Report Abuse

CCP country of practising of "disappearing" . Communism worse than 3rd world countries a power crazy dictatorship evil.

Posted by IDQWE001 > 2023-12-10 06:57 | Report Abuse

Whitney Duan, once one of China’s richest women, disappeared in 2017.

In the years before Duan suddenly disappeared, she and her former husband, Desmond Shum, were among China’s elite class. The couple was involved in several large developments in Beijing including the Beijing Airport Cargo Terminal and the Bulgari Hotel, according to Time.

In 2015, a couple of years after their marriage broke down, Shum himself left China out of concern for the “authoritarian turn” the country was taking under Xi Jinping, Time reported.

Duan disappeared in 2017 and it took him four years to get in contact with her again.

After he spoke to her again, Shum told Time that “she said she had no news of the outside world over the last four years. She said, ‘They have been lenient to me, they didn’t treat me that badly.”

He also said that Duan pleaded with him not to publish his recent book “Red Roulette: An Insider’s Story of Wealth, Power, Corruption, and Vengeance in Today’s China,” which details corruption in the Chinese Communist Party.

Shum told Time, “she asked me to stop the book launch, saying, ‘How would you feel if something happened to our son? And what would happen to our son if something happened to me?’ I took that to be a threat.”

Posted by IDQWE001 > 2023-12-10 06:57 | Report Abuse

Jack Ma, e-commerce mogul, disappeared in 2020 after criticizing the Chinese financial industry.

The high-profile Chinese entrepreneur behind e-commerce giants like Alibaba and Ant Group is regarded as something of a celebrity in China and was once the richest man in Asia. At his peak in 2020 he had a fortune of close to $61 billion.

That October, though, as Ant Group was gearing up for an IPO, Ma criticized the Chinese financial industry in a speech he gave in Shanghai. The speech prompted authorities to impose new regulations halting the IPO and Ma suddenly disappeared from public view.

He’s kept a pretty low profile since, resurfacing over the years in locations like Spain, Thailand, and reportedly spent several months in 2022 living in Japan. In May, Ma made a rare public appearance in China, visiting a school founded by Alibaba partners in the city of Hangzhou, according to Aljazeera.

His wealth has taken a hit, too, over the years, as his companies struggled during the pandemic. He’s now worth close to $30 billion, according to Bloomberg.

The post The list of high-profile executives in China that have been investigated, face exit bans, or have just gone missing, keeps growing appeared first on Business Insider.

Posted by IDQWE001 > 2023-12-10 06:58 | Report Abuse

CCP country of practising of "disappearing" . Communism worse than 3rd world countries a power crazy dictatorship evil.

Posted by qqq47660 > 2023-12-11 00:22 | Report Abuse

Ignorant of something doesn't mean it has disappeared

Posted by foongsh > 2023-12-11 09:39 | Report Abuse

Posted by IDQWE001 > 1 day ago | Report Abuse

CCP country of practising of "disappearing" . Communism worse than 3rd world countries a power crazy dictatorship evil.

Communism is the rubbish of Westerns nothing to do with ancient Chinese culture.

Posted by qqq47660 > 2023-12-11 17:48 | Report Abuse

DPP propaganda.
Too bad opposition cannot unite

Posted by IDQWE001 > 2023-12-11 18:01 | Report Abuse

Chinese Stocks Hit World's Worst-Performing Status; Cyber Giant Trend Micro Exits China!

https://youtu.be/kSfSq-Lwa1Y?si=peheHmwfIxuNCCCJ

Just let CCP plays its own stocks amid the rest of the strong and solid alliance break new high. Lol

Posted by IDQWE001 > 2023-12-11 18:05 | Report Abuse

Missing, Ousted Ex-Chinese FM Qin Gang Dead?Xi Regime's No Tolerance For Extra-Marital Or Suicide?

https://youtu.be/KcEes4cOMFg?si=499AUy-k8x-4fDw9

Communism is the rubbish of Westerns nothing to do with ancient Chinese culture.

Posted by qqq47660 > 2023-12-11 21:02 | Report Abuse

China will win because China is united patriotic and a country of geniuses. And proud of china

Posted by qqq47660 > 2023-12-11 21:47 | Report Abuse

No special privilege for foreign minister

Posted by foongsh > 2023-12-11 22:27 | Report Abuse

India’s economy follows China to reach rapid take off: Kemp

LONDON (Reuters) -India has been the world’s fastest-growing major economy in the last two years and is forecast to retain the top spot in 2024 as the urbanisation and industrialisation process reaches the rapid take-off phase.

Real gross domestic product is forecast to increase more than 6% in both 2023 and 2024, according to the International Monetary Fund (“World economic outlook”, IMF, October 2023).

Compound annual growth will be slightly faster than China (4-5%), twice as fast as the world economy as a whole (3%), and four times faster than in the advanced economies (1.5%).

Posted by foongsh > 2023-12-11 22:32 | Report Abuse

India's Nifty 50 hits all-time high; posts best week in five months

The blue-chips Nifty 50 (.NSEI) and BSE Sensex (.BSESN) gained 2.39% and 2.29%, respectively, led by a rise in energy stocks.

Faster-than-expected quarterly economic growth and acceleration in factory growth in November supported the rise in domestic equities.

Smart money will not go to CCP country of practising of "disappearing"

Posted by qqq47660 > 2023-12-11 22:54 | Report Abuse

Inflation is bad for people. Ask Anwar, he will know.

Posted by qqq47660 > 2023-12-11 22:56 | Report Abuse

When everyone insists on freedom but no one responsible. U get Indian style democracy