The Wall Street Journal reported last week that Beijing was considering replacing its trade negotiator with the U.S., with Vice Premier Hu Chunhua replacing Liu He, the original trade representative. China’s Ministry of Commerce has since denied this, but the Financial Times has reported that Liu He’s son, Liu Tianran, has resigned as chairman of his investment firm, Tian Yi Zi Teng, as required by the Chinese Communist Party, but is still making secret deals and investing heavily in tech giants Tencent and Jingdong. According to a report by Free Asia today, Tencent, Jingdong and other Chinese technology giants are currently caught in the whirlpool of China’s “anti-monopoly investigation”, and with the 20th Communist Party Congress to be held next year, the Financial Times has disclosed “black materials” about Liu He’s family at this point in time. The Financial Times’ disclosure of “black materials” about Liu He’s family at this point in time has sparked speculation.
Liu He is said to be Xi Jinping’s inner circle
The Financial Times reveals that Liu He’s son has been investing in Chinese science and technology companies for profit behind the scenes. According to a report in the Financial Times, cited by Free Asia today, the company was founded in 2016 in Zhejiang Province with Liu Natural as its chairman, who gave up his chairmanship in April 2017, six months before Liu He was promoted to the Politburo, and then transferred his shares to a senior executive the following year. The report said this was because the Chinese government prohibits the children of high-ranking officials from holding key management positions in the industries their parents oversee.
The report cited sources as saying that even though he resigned as chairman and transferred his shares, he still secretly conducted transactions for “Tian Yi Zi Teng,” including a number of lucrative deals involving Chinese tech giant Tencent and Jingdong, suggesting that Liu played an important role in the transactions. “The company has grown rapidly over the past five years into a firm with more than 10 billion yuan in assets under management and more than 30 employees in its offices in Beijing and Shanghai.
According to the Financial Times, which cited financial industry sources, the CCP’s “princelings” have been trying to keep a low profile, but have been attracted by financial market interests and have never left the financial market as required.
According to the report, Tencent, Jingdong and other giants of Chinese science and technology enterprises are currently caught in the whirlpool of China’s “anti-monopoly investigation”, and the 20th National Congress of the Communist Party of China will be held next year.
Apollo.com commentator Wang Duran said that the Chinese Communist Party has been using foreign media to break news about its internal struggle for many years, and the number of such cases has increased by leaps and bounds since Wang Lijun fled to the U.S. consulate. Before the 19th National Congress, the South China Morning Post of the Jiang system, reported on the family members of Li Zhanshu and Wang Yang. This time, Liu Hexiang’s story is a repeat of his old strategy, highlighting the intense struggle at the top of the Communist Party for the 20th Congress.
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