Posted on 07/04/2022 12:32:36 PM PDT by nickcarraway
Chinese-Canadian billionaire Xiao Jianhua, who went missing in Hong Kong five years ago, was due to go on trial in China on Monday (Jul 4), the Canadian embassy in Beijing said.
China-born Xiao, known to have links to China's Communist Party elite, has not been seen in public since 2017 after he was investigated amid a state-led conglomerate crackdown. The specifics of the probe haven't been disclosed by officials.
"Global Affairs Canada, our home office, is aware that a trial in the case of Canadian citizen Mr Xiao Jianhua will take place today," a Canadian Embassy official told Reuters over the phone in a readout of a statement from Ottawa.
(Excerpt) Read more at channelnewsasia.com ...
Taiwanese factory owners who set up shop in China (not these days, of course, but in the recent past) are told they can go back to Taiwan, but they have to turn over their factories to the government.
Lesson: Think hard before doing business in a Communist country, no matter how friendly and inviting they seem to be.
CEO’s of multi-nationals don’t care. They personally will not spend much time in China to get in trouble. If the commies grab the factory, the loss is borne by stockholders, not the CEO.
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