Xiao Jianhua

Early life

Xiao Jianhua was born circa 1972 and grew up in Feicheng, Shandong, China. His father was a schoolteacher. He had five siblings.

Xiao attended Peking University at age 14 on a scholarship, and he was a leader for the Communist Party of China on campus. He was opposed to the Tiananmen Square protests of 1989. He received a law degree from Peking University.

Career

Xiao began his career in business by selling IBM and Dell personal computers near the campus of his alma mater in the 1990s. He also worked with Microsoft. Within a few years, he was worth an estimated $150 million.

Xiao is the owner of Tomorrow Holding (trading as Tomorrow Group), a diversified investment company with concerns in banking, insurance, real estate development, coal, cement and rare earth minerals. According to the New York Times, he owns non-controlling stakes in Ping An Insurance, Harbin Bank, the Huaxia Bank and the Industrial Bank through a series of other investment vehicles, and is also the major shareholder in Baotou Tomorrow Technology.

According to the Financial Times, he "has worked on behalf of a number of powerful families" in China over the course of his career, and The New York Times called him "a banker for the ruling class". By 2016, he was worth an estimated $6 billion.

It was reported Xiao had close connection with the Princelings, which he acquired 50% stake of CCB International Yuanwei Fund Management, an investment management company from Qi Qiaoqiao, Xi Jinping's sister.

According to news report, Xiao also involved in the listing of Pacific Securities, which irregularity was founded later.

Beijing Beida Tomorrow Resources Technology

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. In 1999, the company acquired 47% stake of an intermediate parent company of Baotou Tomorrow Technology (formerly known as Baotou Yellow River Chemical Industry) from Baotou Municipal Government. Beijing Beida Tomorrow Resources Technology also had rights to nominate 3 out of 5 directors, as well as the chairman of the board and general manager of the intermediate parent company. The intermediate parent company was also renamed to Baotou Beida Tomorrow Resources Technology. Xiao Jianhua was nominated as the chairman of Baotou Tomorrow Technology in the same year, which his wife Zhou Hongwen was the president of Beijing Beida Tomorrow Resources Technology at that time.

Tomorrow Holding

According to 2015 annual report of Baotou Tomorrow Technology, Tomorrow Holding is currently owned by Xiao Weihua, cousin of Xiao Jianhua for 29%. It was reported that Xiao Jianhua owned his assets via relatives or his wife, but not himself. According to a publication of Tsinghua University Press, Tomorrow Holding at first majority owned Xiao Jianhua and his wife for 50% stake (25% + 25%).

Tomorrow Holding and associate companies owned 5.75% shares of Shanghai Ace (SSE: 600652) in 2000. However, Xiao Jianhua and his wife Zhou Hongwen, as well as 4 other people that related to Tomorrow Holding, were elected as the new directors. That year only 7 new directors were elected, and the board of directors consisted of only 13 directors. The only new director that was apprently not related to Tomorrow Holding, was new chairman Deng Jingshun, who later became vice-president of Tomorrow Holding.

Tomorrow Holding currently owned 36% stake of an investment vehicle Zhengyuan Investment (Chinese: 正元投资; literally: "Zhèngyuán Tóuzī"), which was acquired in 2012. In 2008, Tomorrow Holding also sold their stake in Baotou Tomorrow Technology to Zhengyuan Investment, at that time owned by Beijing Beida Jade Bird (30%, an associate company of Peking University) and other companies.

In turn Zhengyuan Investment owned 34.60% stake of Baotou Tomorrow Technology; Zhengyuan Investment also owned 95% stake of Baotou Beipu Industry (Chinese: 包头市北普实业), which was 5% owned by Xiao Weihua personally. Baotou Beipu Industry owned an additional 0.25% stake of Baotou Tomorrow Technology.

Philanthropy

Xiao donated $50 million to his alma mater, Peking University, and Tsinghua University. He also pledged a $10 million donation to Harvard University.

Personal life

Jianhua has a wife, who is from Baotou, Inner Mongolia. He purchased a property in Canada and acquired Canadian citizenship. He also has a diplomatic passport from Antigua and Barbuda. He also owns properties in the United States, and a private jet. He resides at the Four Seasons Hotel Hong Kong in Hong Kong.

Illegally seized from Hong Kong

On January 28, 2017, during the Chinese New Year, he was allegedly taken from his room by Chinese security officers (who have no legal authority to operate in Hong Kong) and brought to China for an investigation.