Missing Chinese tycoon’s holding company set to sell investments
Banking assets and stake in life insurer included in sale more than five months after politically connected billionaire disappeared
Hong Kong — The financial empire of missing Chinese-born tycoon Xiao Jianhua has put billions of dollars of investments up for sale, including stakes in a life insurer, a trust and banking assets, say three people involved in the process. A billionaire with links to China’s Communist Party elite, Xiao vanished earlier in 2017. The magnate was last seen in the early hours of January 27, leaving the Four Seasons Hotel in Hong Kong in a wheelchair with his head covered, accompanied by several people described in the media as mainland Chinese agents. Xiao’s whereabouts are not known but his disappearance sparked widespread speculation he had been caught up in Chinese President Xi Jinping’s crackdown on corruption. Chinese authorities have not commented on Xiao’s disappearance and his family could not be reached for comment. Two of the sources with knowledge of the process said Chinese authorities were now pressing Tomorrow Holdings, Xiao’s conglomerate, to pare back its asset portfolio,...
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