In the 1980s, Jiang Zemin’s position was unstable, so he asked Jiang Mianheng to go to the United States to study and get a green card to observe the situation in China. 92 years later, Jiang Zemin took control of the party, government and military, and asked Jiang Mianheng to return to China to “make a fortune”. So Jiang Mianheng came back with his family, and in January 1993 he worked at the Shanghai Institute of Metallurgy of the Chinese Academy of Sciences, where he became director four years later. As Jiang Zemin’s position became more stable and powerful, Jiang Mianheng went into the business world, and made a fortune as an official.
Jiang Zemin and Jiang Mianheng
In 1994, Jiang Mianheng bought the Shanghai United Investment Company worth hundreds of millions of yuan from the Shanghai Municipal Economic Commission with a “loan” of millions of yuan, starting his career in the “telecom kingdom”. The company was planned and founded by a deputy director of Shanghai Municipal Economic Commission surnamed Huang, who put a lot of effort into it. But after three months of establishment and operation, Mr. Huang was suddenly transferred back to the Economic Commission, and then “parachuted in” to Jiang Mianheng, whom no one knew, and became the chairman and general manager of “Telecom King”. That Mr. Huang disappeared, and no one even remembered his name. In this way, “Shanglian” was taken away by Jiang Mianheng.
On the surface, “Shanglian” was a state-owned enterprise, but in reality, it was the private property of Jiang Mianheng. Jiang Mianheng made Shanglian the flagship of his personal business and sat in Shanghai. Since he is the son of Jiang Zemin, he has money and power, and he can do business with no losses. Overseas Chinese and Western businessmen, including the head of Yahoo, Yang Zhiyuan, have visited him or defected to him. The business is quite extensive, such as cable, electronic publishing, CD-ROM production, full broadband network for e-commerce, etc.
Shanghai business people say that Jiang Mianheng’s director titles are too many to count, and he has his fingers in several important economic fields in Shanghai. Even the board of directors of the Shanghai River Crossing and the Shanghai Metro, he has a share. A businessman who flew on a Shanghai Airlines flight overheard a photo of a board meeting of the airline published in an air magazine, one of whom was Jiang Mianheng, but the official list of shareholders of the airline has never been released to the public. They said that Jiang Mianheng is both the king of Chinese telecom and the big brother of Shanghai Tang.
This was not enough to satisfy the Jiang and his son, because in the history of the Chinese Communist Party, even if a wealthy businessman makes a big fortune, it is still in danger without the guarantee of an official position. So on December 2, 1999, the State Council announced the appointment and removal of Jiang Mianheng, who was appointed by Jiang Zemin as vice president of the Chinese Academy of Sciences and rocketed into the ranks of national leaders.
In May 2001, at the Fortune Forum held in Hong Kong, Jiang Zemin brought Jiang Mianheng, the “national leader”, to introduce him to the rich and powerful international dignitaries, especially the multinational tycoons, in order to expand the strength of Jiang’s kingdom. Sure enough, the day after the success of China’s Olympic bid, Jiang Mianheng began to sign large orders with these foreign tycoons. By this time, Jiang Mianheng had become the top representative of the Chinese Communist Party’s “government-business integration”.
Before the establishment of China Netcom, Jiang Mianheng was the owner of Netcom, and he threatened to annex Northern Telecom, but in fact Netcom In fact, “Netcom” had already been emptied by Jiang Mianheng, and he had no ability to acquire “Northern Telecom”. In order to relieve Jiang Mianheng’s crisis, Jiang Zemin personally ordered that China Telecom must be divided into two, into “Northern Telecom” and “Southern Telecom”, and give the ten provinces of “Northern Telecom” to “Netcom” for free. The fixed assets of “Northern Telecom” were given to “Netcom” for nothing.
In September 2004, Netcom, the last of the four major telecom companies in the mainland that did not go public, delayed its listing schedule again and again, with October as the deadline. Why do three of the four major telecom companies have the power to go public, but Jiang Mianheng still has no assets after getting the fixed assets of ten provinces of Northern Telecom? Where did the money go?
During this period of time, Jiang Mianheng has integrated and then withdrawn Netcom three times, and in the dazzling trick of integration and withdrawal, he has collected all the national telecom assets into his own pocket. Zhang Chunjiang, the president of China Netcom, whom Jiang Mianheng personally roped in, said unapologetically that all this was “for stock listing”. On July 22, 2011, Zhang Chunjiang was sentenced to death with a two-year reprieve after his first trial for bribery.
In 1994, Jiang Mianheng left his post as the director of Shanghai Metallurgical Research Institute and bought Shanghai United Investment Company worth hundreds of millions of yuan. With the Shanghai United Investment Company, Jiang Mianheng had a territory in Shanghai to engage in his own telecommunications kingdom. The most sensational news of that year was the super cooperation between Jiang Mianheng and Wang Wenyang, son of Taiwan’s corporate tycoon Wang Yongqing, to form the Hongli Group to build a wafer fab in Shanghai’s Pudong Zhangjiang Hi-Tech Park, which was once called the super cooperation of the “Golden Power Prince Party” across the Taiwan Strait.
Wang Wenyang is just a scholar, was not approved by his father for extramarital affairs and was thrown out of the family, where did he get the huge funds for the super cooperation? Under repeated questions from the Taiwanese media, Wang Wenyang revealed that he had not contributed a single penny of the $1.6 billion capital he had “invested”. Billions of funds are unilaterally funded by Jiang Mianheng, who is the real big boss. Jiang Mianheng has been concealing this truth from the public for many years.
Jiang Mianheng’s initial purchase of Shanghai United Investment Company’s source of funds is closely related to Liu Jinbao. The company’s main business is to provide a wide range of products and services to the public.
Before Jiang announced that he would no longer be the chairman of the military commission, Huang Ju built two palaces for Jiang in Shanghai. Later, Jiang Mianheng decided to use Shanghai as a base to develop his “telecom kingdom”. The actual person who did it was Huang Ju’s secretary, Wang Weigong.
Zhou Zhengyi, the richest man in Shanghai, was detained in May 2003 for tax evasion, stock manipulation and illegal loans, which led to the removal of Liu Jinbao, president of the Bank of China Hong Kong branch. The case has been called “the biggest financial fraud case since the founding of the country”, and the investigation results point directly to Jiang Mianheng, because when Hongli Microelectronics was established, Liu Jinbao approved more than one billion loans from the Bank of China in Shanghai were irregularities.
A media report in Hong Kong revealed that the investigation into Zhou Zhengyi’s collusion between business and government in the land grabbing issue has even gone to Jiang Zemin’s two sons. Investigators are said to have found that Jiang Zemin’s eldest son, Jiang Mianheng, and the Putuo District government had also circled a large piece of land in the same way as Zhou Zhengyi in Jing’an District. The land circled by Jiang Mianheng and Jiang Miankang in Shanghai was approved for use, but both circled the land for free without paying a penny. Jiang Mianheng is even more evil than Zhou Zhengyi, who has to pay tribute to the Shanghai gang, while the Grand Duke Jiang, who can’t be messed with, simply has the tenants forcibly relocated to the far suburbs and never gives any compensation according to the regulations.
According to a news release from the China Human Rights and Democracy Information Center in Hong Kong, Jiang Zemin’s son Jiang Mianheng was involved in a bribery case involving Zhou Zhengyi, and the Hu-Wen authorities have obtained a tape of a conversation between Jiang Mianheng and Zhou Zhengyi. The source said that on the night of May 26, 2003, Jiang Mianheng and Zhou Zhengyi met at a concert hall, during which Jiang leaked state secrets to the other side, including inside information about the case of Liu Jinbao, the former president of the Bank of China in Hong Kong. Before Jiang’s meeting with Zhou, the authorities were investigating Zhou’s bribery case, and Zhou’s cell phone was actually tapped. The police then installed a wiretap in the concert hall where Jiang and Zhou met, and their conversations were all recorded. After Jiang Mianheng left the concert hall that night, the public security authorities immediately arrested Zhou and sent the tapes to the top of the Communist Party.
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