The private equity funds of Jiang Zemin’s Grandson
On April 9, Reuters published a long report revealing
that former Chinese Communist Party leader Jiang
Zemin’s grandson Jiang Zhicheng manipulated China
private equity funds to raise huge amounts of money.
Founded in 2010, Boyu Capital is poised to earn big
payouts from two of the most notable initial public
offerings to emerge from China in the last 18 months.
These are e-commerce giant Alibaba Group Holding
Ltd, and state-backed debt trader China Cinda Asset
The investment is expected to earn a substantial exit
payout for Jiang, his Boyu colleagues and investors
in the firm’s first $1 billion fund, people in the private
equity industry say.
Alvin Jiang’s firm has swiftly raised $1.5 billion from
investors for its second fund, 50 per cent more than its
first fund, people with knowledge of the matter said.
No other China-focused firm with such a short history
has found its way into both deals.
Several limited partners told Reuters that their firms
assess princelings on their political connections and
ability to convert those ties into business deals.
Alvin Jiang and Boyu Capital rank high on those lists.
Bureau Deputy Director’s Suicide Reports Deleted
Mainland Caixin website reported on April 10,that the deputy
director of the State Corresponding Bureau Xu Yean committed
suicide for reasons unknown in the office on April 8 morning.
The news was quickly republished by several media inside
and outside China but deleted by Caixin in the afternoon.
Five months ago, another deputy director of the Chinese
Communist Party (CCP) State Corresponding Bureau was
investigated by the discipline Inspection Commission.
The incidents of the two officials caused a
lot of outside speculation.
Xu Yean’s death is the fourth suicide public official reported
by mainland media in the past two weeks.
After Jiansanjiang Incident, Lawyer Suppression
More mainland lawyers are being suppressed by authorities.
Heilongjiang Jiansanjiang’s illegal detention, torture and
abuse of human rights lawyers has not subsided.
According to the mainland Human Rights Defenders website
human rights lawyer Liu Shihui recently suffered violent
beatings and property confiscation by Guangzhou state police.
Liu Shihui said he was pulled by his ears and hair, slapped
and handcuffed in front of the crowd through the streets to be
humiliated by state security.
Eventurelly he was forced to sign the guarantee of “voluntarily
leaving Guangzhou and no longer step in Guangzhou in 2014″.
Liu Shihui is the lawyer of human rights activist Guo Feixiong
and disbarred by the authorities.
Another human rights lawyer Wang Quanping was detained
by Haidian Public Security Bureau for apparently causing
disturbances during the trial of the new citizens’ movement
advocate Ding Jiaxi.
Hangzhou Lawyer Wang Cheng who was injured in
Jiansanjiang was harassed and expelled by cutting the
power and water to his home by state security.