When Alibaba Group Holding Ltd founder Jack Ma just spent
30 billion yuan in acquiring business, foreign media revealed that
former CCP leader Jiang Zemin's grandson joined Jack Ma
to found a private equity company to attract investors such as
Asia's richest man Li Ka-shing.
Analysts believe the Jiang Zemin faction is attacking Xi Jinping's
weakness, i.e., safeguard the party,
challenging Xi's anti-corruption campaign,
and transferring capital overseas.
In just a week, Jack Ma acquired the Hundsun Technologies and
Wasu Media.
Wasu Media is one of the seven Internet TV licensed in China.
According to Reuters, Wasu Media will sell the20% stake in a
private share placement to Hangzhou Yunxi Investment
Partnership Enterprise, which is owned by Alibaba co-founder
Simon Xie and Shi Yuzhu, billionaire founder of Giant Interactive
Group Inc.
Yunxi Investiment is owned by Ma and Xie at99% and1% share,
respectively.
Yunxi Investment has a registered capital of6 million yuan.
To acquire Wasu Media at6.5 billion, Yunxi borrowed from
Tmall which has a registered capital of2 million.
Media questioned, exactly how did Yunxi obtain the6.5 billion
yuan?
Yahoo! Inc. owned half shares in China's giant e-commerce
company Alibaba.
In September2012, Alibaba raised capital to buy back its entire
half share from Yahoo! with the help of China Investment Corp
(CIC), China Economic Consulting Corp(CDBC), and Boyu
Capital.
Under the State Council, CIC was funded on the national
reserves.
CDBC was an equity investment company of China Development
Bank,
and Boyu Capital was a Hong Kong based company co-founded
in2010 by Alvin Jiang, grandson of Jiang Zemin.
Over the past18 months, Boyu Capital made two pre-IPO
investment deals in Alibaba and China Cinda Asset Management,
respectively.
Boyu attracted US$1 billion from investors during Phase I fund
raising such as Li Ka Shing Foundation.
It is anticipated to raise US$1.5 billion during Phase II.
Reuters reported, that in1999, the central government
under Jiang Zemin opened up the operation of duty free shops to
international bidders at the new Pudong International Airport in
Shanghai.
Fred Kiang, a Chinese-American businessman with close ties to
the Jiang family, founded Sunrise Duty Free which won a10-year
contract at the airport.
Business at Sunrise is booming with annual revenue of more
than$1 billion.
Boyu bought Sunrise in2011.
Zhao Pei, NTD commentator:"This news release poses a
challenge to Xi Jinping.
It tells Xi Jinping and the Chinese that anti-corruption will not
touch the rich and powerful financial elite, which includes more
than Jiang Zemin.
The real anti-corruption needs to tackle the entire CCP.
The CCP is the system that legalizes the corruption."
Last October, Alibaba was declined by Hong Kong Stock
Exchange its proposed governance structure and claim to
initiate the process for an IPO in the United States.
Since then, Alibaba's third-party online payment platform,
Alipay has met resistance from the Chinese banks.
Alvin Jiang has75% of Alipay's shares.
According to a Boxun.com report Jiang Zemin had argued
to Xi Jinping that removing Zhou Yongkang will affect the image
of the CCP.
Wu Fan, political commentator:"Jiang Zemin's so-called the
image of party is just an excuse.
It is his family interest that's being damaged.
The CCP has no image.
With the anti-corruption, Xi Jinping will lose his authority in the
regime."
NTD commentator Zhao Pei points out that to tackle Jiang
Zemin, Xi Jinping has to shut down the Alipay which covers
the business from banks to funds.
The massive amount of capital concerns the people.
The Jiang faction has tied their interest to that of the entire Chinese.
Interview& Edit/Liu Hui Post-Production/Shu Can
