On May 6, the Chinese Communist Party (CCP) arrested 17 members of a China Black Societies (gang) operating in Wuhan, Hubei province, including the notorious boss Huang Dafa and Xiong Daxi. Both Huang and Xiong held Hong Kong identity cards (HKID). In 2018, Xiong purchased a standalone house on Repulse Bay Road for approximately HK$496…
China Gang Boss Buys Hong Kong Mansion for HK$450 Million, Gets Arrested in China
Dueling US-China Economies
March 27, 2023
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Business & MarketsBusiness Columnistsbusiness leaderscapital flightChen DatongchipsOpinionThinking About China
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Commentary China’s arbitrary imprisonment of top business leaders is a self-defeating weakness that can be exploited by the United States and our allies globally. This strategic failure by Beijing, and all communist societies, is replicated by its allies, including Russia and Venezuela. It could be a fleeting and lucrative window of opportunity for democracies in…
Chinese Shareholders Rush to ‘Cash Out’ as CCP Tries to Prevent Capital Flight
December 25, 2022
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Asia & Pacificcapital flightChinaChina Business & EconomyChina economic downturnchina economic risksWorld
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News Analysis Guangdong DP Co., Jinke Property Group, and Country Garden Service Holdings all announced massive stock sell-offs in November and December. The Chinese companies are just the latest to announce major sell-offs. Experts speculate that the stock sales are part of an increasing trend by China’s super wealthy to cash out and leave the…
Virtual Currency Money Laundering Cases Mushroom Amid China’s Wealth Flight
News Analysis Multiple virtual currency money laundering cases have been occurring in China recently, involving vast amounts of money. Some industry insiders say this has been the mainstream way of capital flight from China for several years. The public security bureau in Tongliao City, Inner Mongolia, has recently busted a money laundering ring that used…
Beijing’s Strong Regulation Can’t Stop Chinese Capital Outflow, US Ultimately Benefits
China has had a long-standing problem of cash leaving the country. Much of the outflow is the result of corrupt officials transferring state-owned assets overseas. Last month, China’s central bank released a report on monetary policy that says stronger supervision has been implemented. But China experts doubt that it can prevent the ongoing flight of…
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