A Chinese policeman guards in front of a giant portrait of the late chairman Mao Zedong on the Tiananmen Gate at Tiananmen Square in Beijing, China. (Image credit: Getty Images)

Chinese billionaire seized from Hong Kong

Xiao Jianhua, a financier with links to the Xi family, taken to mainland China

A Chinese billionaire with connections to top Beijing leaders has been abducted from the Four Seasons Hotel in Hong Kong by Chinese public security agents and taken to the mainland, according to two people familiar with the investigation.
Xiao Jianhua, a financier with links to the family of Xi Jinping, China's president, was one of several mainland businessmen who resided at the luxury hotel's serviced apartment block in Hong Kong in recent years as Mr Xi's corruption crackdown ensnared a growing number of tycoons.
They hoped they were beyond the reach of China's feared public security forces because Hong Kong is a semi-autonomous territory that has its own police and legal system. Chinese law enforcement agencies are not allowed to operate in Hong Kong, according to the former British colony's mini-constitution.
Mr Xiao, one of China's richest men, controls the Tomorrow Group, a low-profile but influential holding company based in Beijing with stakes in banks, insurers and real estate developers. The Hurun Report, which analyses the fortunes of China's richest people, estimates his personal wealth at $6bn.
His disappearance will add to fears that Hong Kong is losing its autonomy, coming after the abduction in 2015 of five booksellers who published works that criticised Chinese leaders and made explosive allegations about their misdemeanours.
Mr Xiao was accosted in his Hong Kong waterfront apartment at around 1am on Friday, the eve of Chinese new year, by "five or six plain-clothed Chinese public...Read more...

Source: cnbc.com