Xiao Jianhua, founder of the Tomorrow Group of companies, is awaiting trial in an unknown location on charges of bribery and stock price manipulation, while key parts of his sprawling empire are been taken over, or sold. Illustration: Henry WongXiao Jianhua, founder of the Tomorrow Group of companies, is awaiting trial in an unknown location on charges of bribery and stock price manipulation, while key parts of his sprawling empire are been taken over, or sold. Illustration: Henry Wong
Xiao Jianhua, founder of the Tomorrow Group of companies, is awaiting trial in an unknown location on charges of bribery and stock price manipulation, while key parts of his sprawling empire are been taken over, or sold. Illustration: Henry Wong

China’s regulators break down Xiao Jianhua’s financial empire, seizing Tomorrow Group’s insurers, trust firms and brokers

  • The government said it has taken control of Huaxia Life Insurance, Tianan Life Insurance, Tianan Property Insurance and Yi’an Property Insurance, according to a statement by the China Banking and Regulatory Commission (CBIRC)
  • New Times Trust, and New China Trust were also taken over, effective immediately
Topic |   Insurance
Xiao Jianhua, founder of the Tomorrow Group of companies, is awaiting trial in an unknown location on charges of bribery and stock price manipulation, while key parts of his sprawling empire are been taken over, or sold. Illustration: Henry WongXiao Jianhua, founder of the Tomorrow Group of companies, is awaiting trial in an unknown location on charges of bribery and stock price manipulation, while key parts of his sprawling empire are been taken over, or sold. Illustration: Henry Wong
Xiao Jianhua, founder of the Tomorrow Group of companies, is awaiting trial in an unknown location on charges of bribery and stock price manipulation, while key parts of his sprawling empire are been taken over, or sold. Illustration: Henry Wong
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