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Bloomberg

Billionaire art collector and investor Liu Yiqian, the former taxi driver famous for splashing out on ancient scrolls and imperial porcelain, is adding a bet on a Chinese brokerage.
A company owned mainly by Liu and his daughter Liu Yanchao will buy a 14.7 per cent stake in Changjiang Securities for 10 billion yuan (HK$12.6 billion), according to a Shenzhen stock exchange filing by the brokerage in Wuhan in Hubei province.
Liu, 52, is known for purchases such as a 500-year-old ceramic bowl that once belonged to Emperor Qianlong, but he said he got his big break betting on stocks in the 1980s.
China’s share market boom is pumping up brokerage profits with Haitong Securities, one of the nation’s biggest, reporting that net income more than tripled in the first quarter from a year earlier.
Changjiang’s shares have gained 274 per cent over the past year.
The company selling the stake is Qingdao Haier Investment & Development, the brokerage’s largest shareholder.
Liu already has investments in the finance industry, including in Orient Securities in Shanghai, and is the chairman of Hubei Biocause Pharmaceutical.
 


Chinese billionaire buys stake in brokerage firm for 10bn yuan

Liu Yiqian pictured after he paid HK$348.4 million last November for a Tibetan tapestry. Photo: SCMP Pictures

Chinese tycoon Liu Yiqian breaks world auction record for HK$348.4m thangka

The thangka was made in the Yongle period of the Ming Dynasty. Photo: Christie's

‘Uncultured’ multi-billionaire is China’s biggest fine-art collector 

Liu Yiqian owns insurance and investment companies, as well as one of the biggest private collection of art in China. Photo: SCMP Pictures

One of Liu's most recent purchases was the rare "chicken cup", bought for HK$281.24 million. Photo: Reuters

Liu and his wife opened the Long Museum and its West Bund branch (above) to house their complete collection. His wife focuses more on contemporary pieces. Photo: AFP

Some of Liu's purchases have proved controversial. A Song-dynasty poet's calligraphy he bought for US$8.2 million was denounced by experts as fake. No definitive ruling has been made. Photo: AFP

The Meiyintang "Chicken Cup" from the Ming dynasty that Shanghai collector Liu Yiqian bought at auction for HK$281.2 million. Photo: AP

News

China

Money & Wealth

Liu Yiqian, famed for buying art, purchases 14.7 per cent of Changjiang Securities
