The new Treasury Secretary Xu Zhengyu has a wealthy family and his mother, a man with a mansion, once operated a gold bank in North Point

01 Investigation

Written by: Zhou Weiqiang, Chen Xinxi

2020-04-22 11:55

The Secretary for Financial Affairs and the Treasury is one of the main officials who is responsible for the spicy property tax after the Financial Secretary, and his property sales have always received much attention. The reporter checked the registration of the Land Registry and found that Xu Zhengyu, who came from a wealthy family, had repeatedly participated in the sale of luxury homes. At present, he and his father own a luxury unit in Happy Valley Gallant Terrace. Xu and the two own Happy Valley Le Taoyuan units, with a market value of about 100 million yuan.

As for Xu Zhengyu's wife Chen Yanni, there were reports last year that she was the managing director of Goldman Sachs Asia. According to the information, after transferring the ownership of the two luxury properties to Xu Yuzheng in the middle of last year, Chen purchased 86 million yuan for the half-mountain Ligende Pavilion in the name of the first home.

Xu Zhengyu, currently the Administrative Director of the Financial Development Bureau and the Central Committee of the DAB, has been appointed as the Secretary for Financial Affairs and the Treasury to succeed Liu Yixiang. (Information Picture / Photographed by Ou Jiale)

Recommended by the Treasury Bureau to manage spicy taxes

On Tuesday (21st), the Hong Kong government reported a high-level earthquake. Among them, the brother of the late deputy director of the Home Affairs Bureau Xu Xiaohui, the current Chief Executive of the Financial Development Bureau and the Central Committee of the Democratic Alliance for Development Xu Zhengyu, was appointed Director of the Financial Affairs and Treasury Bureau. , Succeeding Liu Yixiang. Xinhua News Agency published this morning (22nd). The State Council decided on April 22 that Xu Zhengyu should be appointed as Director of the Financial Affairs and Treasury Bureau.

Looking through the land registry records, Xu Zhengyu and his wife Chen Yanni, as well as the other two, spent 41 million yuan and 17 million yuan in 2010 and 2011, respectively, to purchase a mid-level unit at the Gallant Terrace in Happy Valley and a high-rise building at Le Tao Court unit.

As of 2019, Chen Yanni and the other two have successively transferred the ownership of the Jialuntai unit to Xu Zhengyu and his father, Xu Hongquan, so that the unit will be wholly owned by the father and son. As for the Le Taoyuan unit, Chen Yanni also sold the title she held to Xu Zhengyu in 2019, making the unit owned by Xu and two others. The total market value of the two luxury homes is currently about 95 million to 100 million yuan.

The Xu Zhengyu couple and the rest of the two bought a high-rise unit in the Happy Valley mansion Le Tao Yuan for 17 million yuan in 2011. The unit is now owned by Xu Zhengyu and two others. (Photo / Photo by Liang Mingkang)

Xu's wife first bought mid-level luxury homes last year

Mrs. Chen Yanni, Xu's wife, purchased the high-rise unit in Tower 3, Ligente Court, Mid-Levels for $ 86 million in April 2019 after the above two units were "rejected"; , Which is 4.25% of the stamp duty paid by the first home buyer.

Xu Zhengyu's couple and two others also bought a Leighton Hill unit in Happy Valley in 2008. They held the goods for about two years and sold them in 2010. The book profit was 3.8 million yuan. Xu and his wife also bought the Yiwan Bay unit in Xiwanhe in 2006 and sold it in 2010 with a book profit of 4.42 million yuan.

The Xu Zhengyu couple and the rest of the two bought a high-rise unit in the Happy Valley mansion Le Tao Yuan for 17 million yuan in 2011. The unit is now owned by Xu Zhengyu and two others. (Photo / Photo by Liang Mingkang)

Xu Zeng worked as a developer and bank wife as a senior investment bank last year

Xu Zhengyu's parents, Xu Hongquan and Zeng Minli, once operated the Hong Kong Yi Group, which owns many Hong Kong and Mainland companies such as Hong Kong Yi Enterprises and Tianfu Jinxing. Among them, Tianfu Jinxing was established in 1997 and is stationed on the ground floor of King's Road in North Point. Company registry records show that Xu Zhengyu also served as a director of Tianfu Jinxing, and the company was disbanded in 2013.

Xu Zhengyu served as the strategic development director of the developer New World and was responsible for the business of the Greater Bay Area. He also served as the deputy director of the listing section of the Hong Kong Stock Exchange and the senior vice president of the mainland affairs section. He has reportedly coordinated the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong. through. Xu Yi served as an administrative officer, served as assistant secretary general of the Economic Development and Labor Bureau of the SAR Government, and administrative director of the Beijing Office. He then transferred to Standard Chartered Bank and served as the head of business development in China.

Xu's wife Chen Yanni is a senior student at a prestigious school. She will be awarded a scholarship to study for economics at the University of Chicago in the United States after winning the nine merits. According to media reports in 2019, she serves as the managing director of Goldman Sachs Asia.

[Lin Zheng Changge] The State Council announced the appointment of Zeng Guowei as political bureau chief Lin Zheng at noon

The Chief Executive of Chufa Jinfa Bureau and the brother of Xu Xiaohui take over Yang Weixiong as Director of the Department of Electrical and Mechanical Services of the Treasury Bureau

Xu Zhengyu, Executive Director of the Bureau of the High-Level Government Earthquake Biography, takes over as Director of the Treasury Bureau

[Exclusive] News: Xu Yingwei, Deputy Bureau of the Labor and Welfare Bureau, took over the Director of Civil Affairs and Liu Jianghua, both members of the DAB

Recalling the portrait of Xi Jinping, the first non-government officer in charge of the Zeng Guowei's way to the top

[Exclusive] Four directors were withdrawn Liu Jianghua Yang Weixiong Liu Yixiang Luo Zhiguang out of the Nie Zhang civil servant

DAB, Financial Development Bureau, Financial Services and the Treasury Bureau