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Xiao Jianhua
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Xiao Jianhua

Xiao Jianhua
Xiao Jianhua
The latest news on Xiao Jianhua, Chinese-Canadian businessman and billionaire, including business news and updates.
Born
13 Jan 1972
Industry
Business
Job Title
Financier, founder of Tomorrow Group
A Chinese mahjong club owner has been fully refunded the 19,000 yuan (US$2,800) she paid to settle a wrongful death claim following a failed attempt to revive a fainting elderly man. Photo: Douyin
Trending in China

China mahjong club owner pays US$2,800 over failed first aid, then gets refunded

China’s Civil Code shields Good Samaritans from civil liability for accidental harm during rescues.

Banking & finance

China slaps record US$8 billion fine, jails Xiao Jianhua for 13 years

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Canadian diplomats denied access to tycoon Xiao Jianhua’s China trial

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Chinese-Canadian tycoon Xiao Jianhua to stand trial in mainland China

Xiao to face court on Monday, according to the Canadian embassy in Beijing.

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Xiao Jianhua was one of China’s richest people before his 2017 downfall. Photo: Weibo
Banking & finance

China’s small-bank shareholders continue to abuse positions, despite crackdown

‘The whip didn’t really hit the right places,’ state media says as small-bank shareholders have been allowed to amass stakes in the banks without regulatory approval, while also using the lenders to secure loans.

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Banking & finance

China drives Baoshang Bank to go bust as buyers balk at its losses

Baoshang was taken over by the government in May 2019, part of an onerous process by the financial and banking regulators to clean it up, recapitalise and resuscitate it to avoid a whole scale collapse in China’s financial system.

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Central banks

Chinese bank’s collapse caused by illegal loans of US$22 billion: PBOC

Tomorrow Group, founded by vanished oligarch Xiao Jianhua, illegally took US$22.3 billion of loans from Baoshang Bank over the course of 14 years, but did not repay them.

Last year Baoshang Bank became the first Chinese lender to be take oven by the government in two decades. Photo: Bloomberg
Banking & finance

Statement purportedly by Tomorrow Group hits back at regulators

Still, coming in the wake of the takeovers by China’s financial regulators of several insurers, financial trusts and brokers linked to Xiao and the Tomorrow Group, the statement raised questions about the way by which the Chinese authorities are going about in taking down one of the country’s most powerful oligarchs.

Insurance

China trims oligarch’s empire by seizing his insurers, trusts, brokers

Five out of the six firms are linked to Tomorrow Group, the investment vehicle of tycoon Xiao Jinhua, as the extension of the regulator’s effort to break up his empire. The latest seizures come more than a year after taking his flagship banks that had engaged in errant lending.

Insurance

Chinese tycoon’s Huaxia Life in talks for possible sale to Ping An

The ongoing discussions between Beijing-based Huaxia Life and Ping An Insurance have stalled over price and stake size, say sources.

Ping An Insurance Group is rumoured to be in discussions with Huaxia Life to acquire a stake in the Beijing-based company. Photo: Reuters
China economy

China’s first bank failure in 20 years still holding back small banks

Baoshang Bank was taken over by the government in May, with HengFeng Bank and the Bank of Jinzhou also since requiring help.

Net new national aggregate financing – a broad measure of credit and liquidity in the world’s second largest economy – slumped to 1.01 trillion yuan (US$144 billion) in July. Photo: Reuters
Banking & finance

China takes over HengFeng Bank, in third nationalisation since May

It’s also the second of several banks in Xiao’s financial empire to be put under state ward, after the May 24 nationalisation of Baoshang Bank in Inner Mongolia’s Baotou city.

China economy

Exclusive | Former top aide to Xiao Jianhua released without trial, sources say

Wen Yingjie, a top aide to Chinese tycoon Xiao Jianhua, was set free without trial in June after years under investigation, according to three independent sources.

China Briefing

China Briefing | Extradition law: one country, two systems and a vicious circle of mistrust

In Hong Kong, residents are worried about Beijing’s attempts to tighten its grip on the city, while central government officials are more concerned with losing control, says Wang Xiangwei.

Anti-extradition bill protesters gather in Admiralty. SCMP / Winson Wong
Central banks

China’s central bank says government takeover of Baoshang was isolated case

People’s Bank of China says an investment conglomerate led by financier Xiao Jianhua misappropriated bank funds, triggering credit risks and prompting the government to step in.

The PBOC and China Banking and Insurance Regulatory Commission assumed control of Inner-Mongolia-based Baoshang Bank last month. Photo: Reuters
Banking & finance

China puts city, rural banks on notice after nationalising Baoshang

Baoshang Bank’s case reflects credit risks hidden in China’s small and medium lenders and more of these issues will surface as regulations are tightened

Banking & finance

Chinese regulators take over bank linked to financier Xiao Jianhua

Baoshang is a key piece in Xiao’s business empire, which holds stakes in hundreds of Chinese listed companies via proxies, spanning energy, financial services, technology and real estate, among a myriad of industries.

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Video | Missing Chinese billionaire Xiao Jianhua

Missing Chinese billionaire Xiao Jianhua
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Corruption in China

Exclusive | Billionaire who vanished from Hong Kong about to face trial in Shanghai

Chinese tycoon Xiao Jianhua has not been seen in public since disappearing from a luxury Hong Kong hotel in January 2017.

China economy

Exclusive | Billionaire who vanished from Hong Kong awaits trial as asset sell-off slows

The trial of Xiao Jianhua, the Chinese billionaire who vanished from a luxury Hong Kong hotel in 2017, won’t take place in China until the second half of this year as his former flagship company struggles to dispose of assets.

Hong Kong Basic Law

EU concerned over ‘gradual erosion’ of Hong Kong’s autonomy

Issues raised in European Commission report include British activist being refused entry and Chinese businessman going missing from hotel in city.

Issues raised in European Commission report include British activist being refused entry and Chinese businessman going missing from hotel in city
Human rights

US told to stay out of Hong Kong affairs after ‘chilling effect’ report

United States Department of State report referred to disappearance of tycoon Xiao Jianhua from Hong Kong hotel in January 2017 and the jailing of three student Occupy leaders including Joshua Wong

Prosecutors in Hong Kong sought harsher penalties against Joshua Wong and two of his fellow student activists although they were originally given community service orders or suspended jail terms. Photo: K.Y. Cheng
China economy

Exclusive | Mysterious tycoon's empire proves tough for Beijing to split up

China economy

Exclusive | Xiao Jianhua firm offloads US$23 billion as China reins in tycoons

Corruption in China

Top Chinese cabinet official’s sacking ‘linked to missing billionaire’ Xiao

Yang Jing “acknowledged his wrongdoings and expressed regrets during the investigation”, according to Xinhua. Photo: Handout
Stocks

Hengtou Securities ends up 29 per cent after Citic unit buys HK$11 billion stake

A company controlled by missing tycoon Xiao Jianhua’s Tomorrow Holding owns an 11.83 per cent stake in Hengtou Securities. Photo: SCMP Handout
Banking & finance

Stake sold in unit of missing tycoon Xiao Jianhua’s empire

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Hong Kong high-speed rail

Hong Kong’s pan-democrats on wrong track with express rail row

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