D.卡尔顿 罗西
D. Carlton Rossi

Xiao Jianhua 2


Deleted postings on missing
China billionaire hint at tensions

By Reuters February 6, 2017

Scores of China social media postings about a well-connected billionaire who went missing from a Hong Kong hotel have been deleted, pointing to what appears to be heightened sensitivity in Beijing over the case of Xiao Jianhua.

According to Freewechat.com, which tracks censored or deleted posts on China’s biggest social network, WeChat, more than 40 articles with the keyword Xiao Jianhua had been censored since January 30.

A similar number of reports with the word “Mingtianxi,” which refers to Tomorrow Group and its subsidiaries, were also deleted.

More social media posts purportedly detailing Xiao’s business links with high-profile companies and senior leaders were also deleted over the weekend.



How many kids does missing Chinese billionaire Xiao have?

Eccentric media mogul Charles Ho claims the vanished tycoon may have as many as 56 offspring

By Ben Kwok

March 17, 2017

Forget Stanley Ho Hung-sun, the 95-year-old Macau casino king who has 16 sons and daughters (from four wives). Another Chinese billionaire may in fact outrank him in the number of children he has sired – Xiao Jianhua, the tycoon who went missing from the Four Season Hotel in Hong Kong’s Central district earlier this year.

That is, at least, the claim from Sing Tao News Corp chairman Charles Ho, who suggests Xiao may have between 53 and 56 offspring.



                                      Xiao Jianhua

China’s stock market regulator vows to ‘capture’ more tycoons

Comments by Liu Shiyu, chairman of watchdog, indicate Beijing’s determination to crack down on market manipulators and control political risks in a sensitive year of power transition.


Xie Yu, Zhou Xin, Sidney Leng

February 11, 2017

China will capture a group of tycoons – known as the “big crocodiles” of China’s stock market – and bring them back to the mainland to face justice, the head of its stock market watchdog told an annual work meeting on Friday.

The comments by China Securities Regulatory Commission chairman Liu Shiyu, published by mainland media outlet Caixin, mark the clearest sign from Beijing so farthat last month’s disappearance from Hong Kong of billionaire businessman Xiao Jianhua was linked to a mainland crackdown on market manipulators and moves to tighten political control ahead of a sensitive leadership reshuffle this year.

According to an investigative report by the China Business News in 2013, Xiao, the chairman of Tomorrow Group, used complicated and opaque arrangements to control a vast business empire and to shelter the identity of the true owners of assets.

“The Tomorrow Group system controlled by Xiao Jianhua is the most controversial in recent years,” Caixin said in an editorial on Thursday. “It controlled a group of listed companies, local commercial banks, securities brokerages, trust investment companies and insurance firms ... it has developed a massive platform to move funds around and plays a critical role for many projects, but it has remained a regulatory blind spot.”


                         Two roads diverged in a wood, and I—
                         I took the one less traveled by,
                         And that has made all the difference.

                         Robert Frost
                         "The Road Not Taken"

                                   Tiananmen Square 1989

The Tiananmen Square Massacre, commonly known in China as the June Fourth Incident (六四事件) were student-led demonstrations in Beijing in 1989. More broadly, it refers to the popular national movement inspired by the Beijing protests during that period, sometimes referred to as the '89 

The Road Traveled


                    No Student Photos of Xiao Jianhua are  Available

Xiao Jianhua 肖建华

He has been involved in business for decades, after showing early loyalty to the ruling Communist party with his stance as a student representative at Peking University. He opposed demonstrations in 1989 that culminated in a state crackdown and the killings around Beijing’s Tiananmen Square.

There was no public mention then — and there have been very few mentions since — of the head of the official student union of Peking University at that time. His name is Xiao Jianhua. Mr. Xiao never opposed the government, and the events of June 1989 did not make him one of China’s “most wanted.” Instead, they catapulted him into the ranks of its most wealthy.


At the time, Mr. Xiao was president of the university’s official student union. The position was largely social, organizing lectures and dances, but the post was coveted because of its ties to the Communist Youth League, a launching pad for future careers in the party.


After a tepid attempt to represent fellow students to university administrators that volatile spring, Mr. Xiao shifted course, agreeing with administrators that street protests had become out of hand. People who knew him at the time said he even worked with them to try to defuse the protests before Chinese troops descended on Beijing and crushed them with force.


“Xiao tried to tell the government what the students demanded, but some of the activists didn’t like his conservative approach, so they set up their own organization,” says Mr. Guo, his former classmate. 


The rewards were immediate. Just after he graduated, Mr. Xiao stepped into the world of business with direct financial support from Peking University, one of China’s most prestigious institutes. In the quarter-century since then, he became the prototype of the politically connected financier. He has assiduously courted the party elite, including the family of its current president, Xi Jinping, becoming something of a banker for the ruling class and a billionaire in his own right.

奖赏很快来临。甫一毕业,肖建华就在北大的直接资助下步入了商界,而这所学校是中国最著名的高等学府之一。在接下来的四分之一个世纪里,他成了第一批与政界关系密切的金融圈高层人士的一员。他不遗余力地趋奉党内权贵,包括现任国家主席习近平的家人,逐渐变得像是统治阶层的银行买办,自己也成了亿万富豪。8. (For One Tiananmen-Era Student)

The Student Movement

            Hunger Strike Statement on Posters at PekingUniversity

"In the very early days of the 1989 Chinese student movement, among the first things the students did was to "disband" their official student union by massive demand. In Peking University, this happened in the evening of April 19.


        Students at Peking University calling for continued class strike

The official student union, if not officially dissolved, became defunct since then. Nobody had paid any attention to them until now, 25 years later, when New York Times published a profile of the head of that union in Peking University at the time: Xiao Jianhua." 7. (Standoff at Tiananmen)


          Chinese Agents Abduct Billionaire Diplomat in Hong Kong

                               January 31, 2017

Excerpts from Public Statement by Ms. Yu Lan, Spokesperson of Tomorrow Group in 2014

As the chairman of the strategy committee of Tomorrow Group, Mr. Xiao keeps studying the theories of Mr. Warren Buffett, and has achieved lots of success. 

As a loyal student to Mr. Warren Buffett’s theories, Mr. Xiao always makes judgments on the trend of stock market and investments in onshore and offshore markets based on his own study and at his sole judgment. He deeply understands the correctness of Mr. Warren Buffett’s theories, and has achieved success through market actions and investments completely in compliance with the laws and regulations. 1.

After the “Event of 1989”, Peking University did not provide any financial support to any entrepreneur (and NO support to Mr. Xiao either).

It was reported that Xiao Jianhua and his business empire started in "Beijing Beida Tomorrow Resources Technology" (Chinese: 北京北大明天资源科技), a company that was 20% owned by Peking University Resources Group at that time.   Wikipedia                       

The Road Less Traveled


                             Li Lu at far right in June 1989

Li Lu 李录

In 1989, he participated in the Tiananmen Square student protests and became one of the student leaders. He helped organize the students and participated in a hunger strike. He fled the PRC through Operation Yellowbird.


                                        Li Lu on the right

Among the students leaders  Li Lu became an investment banker and venture capitalist on Wall Street.

Li Lu (born April 6, 1966 is a Chinese-born American investment banker, investor and hedge fund manager. He is the founder and Chairman of Himalaya Capital Management. He was one of the student leaders of the 1989 Tiananmen Square student protests, an experience he recounted in a 1990 book, Moving the Mountain: My Life in China, that was the basis of a 1994 documentary by Michael Apted. 2.

Li was inspired to get into banking after hearing Warren Buffett, a Columbia alumnus, give a lecture at Columbia in 1993. 3.


                                      Charlie Munger

Charlie Munger, Vice-Chairman of Berkshire Hathaway and a long-time partner of the legendary investor Warren Buffett, is one of the investors of his fund, and a “mentor and good friend” (in Li Lu’s own words). Li Lu has been known as the man who introduced the Chinese battery and auto maker BYD Company to Charlie Munger and Warren Buffett. He is an informal advisor to BYD. His LL Investment Partners owns about 2.5% of BYD. 

Munger, along with Buffett, is one of the main inspirations behind the book Seeking Wisdom: From Darwin to Munger. Author Peter Bevelin explained his key learnings from both Munger and Buffett in a 2007 interview: "How to think about businesses and investing, how to behave in life, the importance of ethics and honesty, how to approach problems but foremost how to reduce the chance of meeting problems." 4.

Mr. Li, 44 years old, has emerged as a leading candidate to run a chunk of Berkshire's $100 billion portfolio, stemming from a close friendship with Charlie Munger, Berkshire's 86-year-old vice chairman. In an interview, Mr. Munger revealed that Mr. Li was likely to become one of the top Berkshire investment officials. "In my mind, it's a foregone conclusion," Mr. Munger said. (August 2, 2010) 6.


                            Warren Buffett at Peking University

Question on leadership at Peking University

A: When doing business, you should not say “everybody else is doing something so we should follow”. Consider what you really need and want to do. On being a successful leader, the basic job is to put the right person at the right place and monitor the whole business. Also, always do what you promise so that your employees will trust you. Warren Buffett  9.

1.  Billionaire Issues Statement About 
     Times Article

New York Times

By David Barboza

 June 5, 2014 


2.  Tiananmen Square Protests of 1989


3.  Li Lu


4.  Charlie Munger


5.  Xiao Jianhua, student leader who became an abducted tycoon
Before disappearance from Hong Kong, the former ‘bagman’ was famed for political connections
Financial Times

Lucy Hornby in Beijing and Jamil Anderlini and Ben Bland in Hong Kong

January 31, 2017


6. From Tiananmen Square to Possible Buffett Successor

[The Wall Street Journal]

Susan Pulliam

The Wall Street Journal

August 2, 2010


7.  Standoff At Tiananmen

How Chinese Students Shocked the World with a Magnificent Movement for Democracy and Liberty that Ended in the Tragic Tiananmen Massacre in 1989.

June 08, 2014


8.  For One Tiananmen-Era Student,
 a Very Different Path to Power


June 4, 2014

Chinese and English


9.  Warren Buffett's Q&A with Peking University on
     February 17, 2017

Jeffrey Towson

February 26, 2017


10.  Warren Buffett’s possible successor ‘a regular guy’
with a legendary hockey connection

Yadullah Hussain 

March 4, 2015



1989 Cables Offer New Detail,
and Questions, on Tiananmen

The New York Times

Sinosphere -- Dispatches from China

By Austin Ramzy

January 29, 2015

The release of Canadian diplomatic cables from 1989 has offered new detail on the deadly crackdown on protesters in Beijing that year. The cables describe the killing of unarmed civilians, rumors of widespread executions and fears that the Canadian Embassy in Beijing could be overrun by the Chinese military if it sheltered protest leaders wanted by the government.

But perhaps the most explosive assertion — that the top level of China’s leadership sought to transfer money to Switzerland — has raised questions among scholars of the period. The Swiss ambassador cited in the cable has denied that any such discussion with Chinese leaders took place.

“The Swiss Ambassador, himself an ‘Old China Hand,’ told us that over the past few months every member of the Politburo Standing Committee has approached him about transferring very significant amounts of money to Swiss bank accounts,” read one cable cited by Blacklock’s Reporter. “For obvious reasons, he has urged us to guard this information with the utmost care.”

The cables were released under Canada’s Access to Information Act and first reported this week by Blacklock’s Reporter, an online publication based in Ottawa.

Some of the Canadian memos reveal important and previously undisclosed details. But they are also the earliest impressions of chaotic events, and thus contain rumors and inaccuracies. The confidential memos outline the violence of the period, as hundreds and possibly thousands of people were killed in the military crackdown. But some also focus on widespread official corruption, which was one of the driving issues behind the protests.




Antigua – Passports for Sale! (Part 2)

Article by Ian Moncrief-Scott for Mondaq.com
When a nation embarks on selling its passports it puts a price on pride of independence.
When greed continues to overwhelm respectability and the price of passports goes wholesale,    the concept of citizenship becomes meaningless.

That "cleared the way" for the Minister's appointments.  In fact, there are those on Antigua who believe that is precisely Benjamin’s association with passport fraud that qualified him for his appointment as Minister of Immigration.

These revelations include that there are now at least three different levels of the CIP, and that further "services" can be bought, such as waivers on visas into Antigua, temporary residency status, inclusion of family members at a discounted price and without separate due diligence, and other similar goodies that facilitate travel for the buyer of "easy entry" and do not appear on any official government accounts.

Prime Minister Gaston Browne announced that 510 passports have been sold through the much vaunted Citizenship by Investment Programme.
When pressed to confirm the nationalities of these new holders of official Antigua & Barbuda passports, Browne stated 38 were involved, listing amongst others:

China 213, Lebanon 58, Iran 33, Russia 25, Egypt 21, Syria 18, Pakistan 14, UK 14, Nigeria 11, Saudi Arabia 9, Italy 7, Canada 7, Kuwait 6, Algeria 6, Iraq 6, Yemen 6, Palestine 5, India 5, Libya 4, Indonesia 4, Vietnam 4, Jordan 3, France 3, Dubai 3, Togo 3, Bangladesh 2, Afghanistan 2, Venezuela 2, Istanbul (Turkey) 2, Ukraine 1, Singapore 1, Uzbekistan 1, Guatemala 1, Austria 1, USA 1, Thailand 1.

In further disclosures Browne confirmed that 120 passports had been handed to the principals of Fancy Bridge, a Chinese company, for $200,000 each, in return for investment funds to take over and expand the West Indies Oil Company.  Browne added that Fancy Bridge had been recommended to the Government of Antigua & Barbuda by Xiao Jianhua, an apparent Chinese billionaire, whose mysterious origins and current treatment by the Government are woefully reminiscent of the previous Antiguan benefactor, R. Allen Stanford.

Passport holders may travel to Canada, Hong Kong, Singapore, the UK and Europe, among others, with relative ease and without challenging visa requirements.


The Fall of Xiao Jianhua's "Tomorrow" Financial Empire


July 22, 2020

The China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission announced on Friday that they would take over nine companies worth hundreds of billions of dollars under tomorrow’s. Beijing sends a strong signal that the era of prestige fuelled by debt is over.

Through these takeovers, China’s top leadership is bringing a key figure representing the era of free finance, where wealthy business executives used their political connections to build large enterprises and acquire compelling acquisitions at home and abroad assets. But the takeover also risked a showdown with a tycoon who knew the secret wealth of the Chinese ruling class.

Under the banner of Tomorrow Group, Xiao Jianhua accumulated stocks of several companies involved in various fields of the Chinese economy, including in the strictly controlled banking and insurance industries, as well as rare metals, coal and real estate industries. The group has invested in some of China’s largest companies, including insurance giant Ping An, as well as banks such as Harbin Bank, Industrial Bank, and Huaxia Bank.



Expect another trip by former Prime Minister Brian Mulroney to China