Xiao Jianhua

Xiao Jianhua (, born 13 January 1972) is a Chinese-Canadian businessman and billionaire known for managing assets for the descendants of prominent Chinese leaders. He was taken from Hong Kong to mainland China in 2017. Canadian diplomats were denied access to his trial by a Shanghai court, which sentenced him to 13 years in jail and fined his company more than $8 billion for embezzlement and bribery.

Early life Xiao was born in 1972 to a schoolteacher from Feicheng, Shandong, China.

Xiao attended Peking University at age 14 on a scholarship, and he was a member of the Chinese Communist Party on campus. According to The New York Times, he owns non-controlling stakes in Ping An Insurance, Harbin Bank, Huaxia Bank and the Industrial Bank through a series of other investment vehicles, According to news reports, Xiao was also involved with the business Pacific Securities, In 1999, Xiao Jianhua was nominated as the chairman of Baotou Tomorrow Technology, while Zhou Hongwen, his wife, was the president of Beijing Beida Tomorrow Resources Technology.

Tomorrow Holding According to a 2015 annual report published by Baotou Tomorrow Technology, Tomorrow Holding is currently owned by Xiao's cousin, Xiao Weihua, who has a 29% stake in the company. It has been reported that Xiao Jianhua owns his assets through relatives or his wife, but not directly himself. According to one publication, Tomorrow Holding was originally owned by Xiao and his wife, who together had a 50% stake.

In 2000, Tomorrow Holding and its associate companies owned shares of 5.75% in Shanghai Ace . However, Xiao Jianhua and his wife, Zhou Hongwen, as well as four other people associated with Tomorrow Holding, were elected as Shanghai Ace's new directors, The move made Tomorrow Holding having an absolute majority in the board of the listed company.

In 2008, Tomorrow Holding sold their stake in Baotou Tomorrow Technology to Zhengyuan Investment , at that time majority owned by Beijing Beida Jade Bird for 30% (an associate company of Peking University) and other companies.

However, in 2012, Tomorrow Holding bought back a 36% stake in Zhengyuan Investment from shareholders other than Beijing Beida Jade Bird. In turn, Zhengyuan Investment owned a 34.60% stake in Baotou Tomorrow Technology and a 95% stake in Baotou Beipu Industry , of which 5% Beipu Industry is owned by Xiao Weihua.

Chinese regulators have since taken control of many Tomorrow Holding companies including Huaxia Life, Tianan Life Insurance, Tianan Property Insurance, New Times Trust, Yi'An Property Insurance, and New China Trust, the China Banking and Insurance Regulatory Commission.

Criminal case According to a report published in 2017, orders for Xiao's detention had been given in 2013, but contacts within the Chinese government had informed him first and he had fled to Hong Kong. He resided at the Four Seasons Hotel there.

On August 19, 2022, Xiao was sentenced in China to 13 years in prison for fraud and corruption.

Philanthropy Xiao donated $50 million to his alma mater, Peking University, and Tsinghua University. He also pledged a $10 million donation to Harvard University.

Personal life Xiao is married to Zhou Hongwen , who is from Baotou, Inner Mongolia. He purchased a property in Canada and acquired Canadian citizenship. He also has a diplomatic passport from Antigua and Barbuda, which he acquired several days before his abduction. He also owns properties in the United States, and a private jet.