The Panama Papers

Chinese web of offshore deals

(Clockwise from top left): Architect Patrick Henri Devillers, linked to wife of disgraced politician Bo Xilai; Jia Liqing; Hu Dehua; Deng Jiagui; and Li Xiaolin.
(Clockwise from top left): Architect Patrick Henri Devillers, linked to wife of disgraced politician Bo Xilai; Jia Liqing; Hu Dehua; Deng Jiagui; and Li Xiaolin.PHOTO: INTERNATIONAL CONSORTIUM OF INVESTIGATIVE JOURNALISTS

Mao Zedong, China's strongman from the founding of modern China in 1949 till his death in 1976

Grandson-in-law Chen Dongsheng, head of a life insurance firm, was sole director and shareholder of Keen Best International set up in the British Virgin Islands (BVI) in 2011.

Hu Yaobang, general secretary of Chinese Communist Party (CCP) from 1982 to 1987; died in 1989

Son Hu Dehua was shareholder, director and beneficial owner of Fortalent International Holdings, which was incorporated in the BVI in 2003 using a traditional courtyard home, where his father lived while he was party chief, as the registered address.

Li Peng, China's premier from 1987 to 1998

Daughter Li Xiaolin and son-in-law own Cofic Investments, a BVI company incorporated in 1994.

Zeng Qinghong, China's vice-president from 2003 to 2008

Brother Zeng Qinghuai was director of a company, China Cultural Exchange Association, which was incorporated first in Niue and then re-domiciled in 2006 in Samoa.

Jia Qinglin, retired fourth-ranked leader and top political adviser till 2012

Granddaughter Jasmine Li Zidan was owner of two offshore firms - Harvest Sun Trading and Xin Sheng Investments - with the first registered in 2010 when she was a freshman at Stanford University.

Zhang Gaoli, executive Vice-Premier and seventh-ranked member of the current elite Politburo Standing Committee (PSC)

Son-in-law Lee Shing Put was a shareholder of three BVI firms: Zennon Capital Management, Sino Reliance Networks Corporation and Glory Top Investments.

Liu Yunshan, propaganda czar and fifth-ranked member of the current PSC

Daughter-in-law Jia Liqing was the director and shareholder of Ultra Time Investments, a company incorporated in the BVI in 2009.

Xi Jinping, Chinese President, CCP chief, and head of the current seven-member PSC

Brother-in-law Deng Jiagui acquired offshore firm Supreme Victory Enterprises via Mossack Fonseca in 2004.

In 2009, it helped him set up two BVI firms: Best Effect Enterprises and Wealth Ming International.

Supreme Victory was dissolved in 2007, and the other two companies became dormant by 2012 when Mr Xi became CCP chief.

SOURCE: INTERNATIONAL CONSORTIUM OF INVESTIGATIVE JOURNALISTS

A version of this article appeared in the print edition of The Straits Times on April 08, 2016, with the headline 'Chinese web of offshore deals'. Print Edition | Subscribe