Cai Esheng, the former vice chairman of the China Banking Regulatory Commission, was expelled from the CCP. The Central Commission for Discipline Inspection and the State Supervision Commission reported that he was "retiring," "disloyal to the party," and "being a two-faced person."
After retiring from Chinese officialdom in 2013, Cai Esheng opened several companies in Hong Kong. He is a non-governmental organization related to the "South-South Cooperation" of the United Nations. In this capacity, he continues to be active in Hong Kong and on the international stage. start a company.
However, behind the investigation companies, they are all related to capital and financial companies, share offices, and have highly overlapping directors.
"Hong Kong 01" obtained documents such as private capital and fund reports, revealing Cai Esheng's financial "circle of friends" in Hong Kong.
01 Exclusive｜Cai Esheng opened the Hong Kong company related United Nations officials with the case of He Zhiping and Wu Lisheng
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The wording of the official bulletin rarely condemns political transformation and disloyalty to the party
According to the circular of the Central Commission for Discipline Inspection and the State Supervision Commission on January 24, 2022, Cai Esheng abused his financial supervision power, seriously disrupted the financial market order, seriously polluted the political ecology of the financial sector, and illegally accepted huge amounts of property.
Compared with financial crimes, his political crimes are more serious. He is accused of "completely transformed politically, disloyal and dishonest to the party, double-faced and double-faced."
Worked in the financial system until retirement in 2013 and came to Hong Kong to set up a company the following year
Cai Esheng, who was born in 1951, has worked in the People's Bank of China and the financial system for many years. Since 2005, he has served as the vice chairman of the China Banking Regulatory Commission until his retirement in May 2013.
He was once known as the "number one hero" of China's trust industry, and he once aroused attention by lamenting that "I can't afford a house in Beijing".
In 2014, he came to Hong Kong to establish "South-South Cooperation Financial Center Limited", "South-South Sustainable Development Steering Committee Asia-Pacific Committee Limited", "South-South International Charity Foundation Limited" and other companies.
In July 2021, Cai Esheng was investigated by the Central Commission for Discipline Inspection and the National Supervisory Commission, and he resigned as a director of the South-South Cooperation Financial Center the following month. The center website also deleted all traces of Cai Esheng, but the other two companies still hold directorships.
The reporter checked some of the deleted information through the archives of the website and found that he has been active in Hong Kong and the international stage for many years.
"Hong Kong 01" investigation reported that Cai Esheng opened a number of company relationships in Hong Kong after his retirement.
(Hong Kong 01 cartography)
Often attend forums at home and abroad, the official website deletes the trace of Cai Esheng
Cai Esheng has been the director and chairman of the "South-South Cooperation Financial Center" ("South-South Finance") in the past. He said in the chairman's speech that the center mainly promotes cooperation between government departments, enterprises and international financial institutions in South-South countries.
The center claims to have cooperation with the United Nations Office for South-South Cooperation and the United Nations Development Program, and also refers to government departments such as the Ministry of Foreign Affairs, National Development and Reform Commission, Ministry of Commerce, and Liaison Office of the Central People's Republic of China, which are also its cooperative agencies.
The member service column states that the center can help members with financing and other substantive support through its extensive political and business network.
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Looking through the website's event information over the past years, Cai Esheng often attended various summits and cooperation forums at home and abroad, and also met with officials.
The so-called "South-South Cooperation" means that most developing countries are located in the southern hemisphere or the southern part of the northern hemisphere.
Cai Esheng founded several Hong Kong companies in the name of "South-South Cooperation", which are not affiliated with the United Nations.
According to the latest financial report of “Southern Finance” in March 2021, the total annual income of the center was 8.64 million yuan, of which the income from conferences, research and projects was 6.03 million yuan, which were all higher than the previous year, while the center’s net debt 11.17 million yuan.
The registered address of the South-South Cooperation Financial Center is the same as that of the OP Financial Group, and there are signs of the OP and the South-South Cooperation Financial Center on the site.
(Photo by Lao Xianliang)
The directors of Nannan Financial and OP Financial highly overlap, Cai Esheng holds 50% of the equity
The current directors of "South-South Cooperation Financial Center Limited" are Zhang Zhiping, Wu Zhong and Zhang Gaobo.
Except for Cai Esheng, the other three are also senior executives of "OP Financial Group", and all have served in the mainland government.
Among them, Zhang Gaobo and Li Xiaojia, the former chairman of the Hong Kong Stock Exchange, founded "Drip Irrigation" last year to finance small and medium-sized enterprises in the Mainland.
OP Financial-related company "OP Financial Investment Co., Ltd." was listed on the Hong Kong Stock Exchange. In 2020, it sold its shell and changed its name to "Huake Capital", with the listing number of 1140.
The Hong Kong Stock Exchange announced that OP Financial Investment subscribed 9.5 million yuan of acceptance notes for the South-South Financial Cooperation Center in 2016. Zhang Zhiping and Cai Esheng each held 50% of the South-South Financial Cooperation Center.
In the early years, OP Financial started by introducing mainland red-chip companies to list in Hong Kong. At that time, foreign-funded banks were less likely to do business such as listing sponsorship of mainland companies. OP Financial, relying on its political and business network in the mainland, served as a "blind public bamboo" for mainland companies.
Zhang Gaobo (right), director of the South-South Cooperation Financial Center and OP Financial Group, and Li Xiaojia (left), the former chairman of the Hong Kong Stock Exchange, will establish "Drip Irrigation" in 2021.
(File photo / Photo by Yu Junliang)
The registered address of the South-South Cooperation Financial Center is located in the Central Exchange Square, which is the same as that of OP.
The staff pointed out that the South-South Cooperation Financial Center is a subsidiary of Dongying, but it does not have office there, and several directors and other staff are also not in the office.
OP Financial responded in writing to the inquiry of "Hong Kong 01" and pointed out that the group has no business relationship with it in order to fulfill its social obligations and become a supporting enterprise in the financial center of South-South cooperation.
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Yao Zhen, the chairman of the "South-South Education Foundation", is the director general
The deleted documents from the "South-South Finance" website also found Cai Esheng to attend the event as the chairman of the "South-South Education Foundation".
The address of "South-South Education Foundation Co., Ltd." is the same as that of Dongying. The directors of the company are Zhang Gaobo and Zhang Jirong, two partners of Dongying, and there is no Cai Esheng.
However, according to the foundation's report, in addition to Chairman Cai Esheng, the management team also includes Vice Chairman Zhang Zhiping and Director General Yao Zhen.
The report also includes photos of Cai Esheng and Yao Zhen going abroad to attend conferences or charity events.
The "South-South Education Foundation" had an income of 12.23 million yuan in the fiscal year of 2019, most of which came from donations, but in the next two years, only the income from interest, exchange and the government's employment guarantee plan will be deducted in 2021. Only $1,475.
The annual expenditure of the foundation has dropped from more than 15 million yuan in 2019 to more than 7 million yuan in 2021; the balance of cash and bank deposits has dropped from 26.407 million yuan in 2019 to 8.219 million yuan in 2021.
Yao Zhen is a member of the family of former Deputy Prime Minister Yao Yilin.
The registered address of "South-South Sustainability Steering Committee Asia Pacific Committee Co., Ltd." is the previous registered address of the private equity fund "Yunlong Capital Investment Consulting Co., Ltd.", and the two companies share the same office.
(Photo by Lao Xianliang)
Nannan Asia Pacific once co-located with Yunlong Capital
"South-South Sustainability Steering Committee Asia-Pacific Committee Co., Ltd." ("South-South Asia-Pacific"), the current directors are Zhang Zhiping and Cai Esheng.
This company has no website, and only had an income of 1,569 yuan in 2019. However, the reporter found that "South and South Asia-Pacific" involves more complex people and institutions.
The registered address of "South Asia Pacific" is located in Phase 2 of Pacific Place, Admiralty. The door of the on-site office was locked and the glass door was blocked. The staff of the building and the nearby company said that the company had moved out.
However, it turned out that this address, in addition to "South Asia Asia Pacific", was also the previous registered address of the private equity fund "Yunlong Capital Investment Consulting Co., Ltd.", and the two companies shared the office.
Yunlong Capital's investment projects include Didi Chuxing and Jack Ma Group.
(Cloud Dragon Capital website)
Yunlong invests in Ant, Didi
The directors and shareholders of "Yunlong" are Zhai Jun and Liu Yan, and another shareholder, Zhao Zhe, is the company secretary of "South Asia Pacific".
Zhai Jun is the founding partner of Yunlong. He was the chairman of Macquarie China, the head of the China Investment Banking Department of Deutsche Bank, and a member of the National Committee of the Chinese People's Political Consultative Conference.
“Yunlong” focuses on equity investment in the fields of technology, media, consumption, medical care, etc. The investment projects include Ant Group, which was hit by the listing, Didi Chuxing, which was ordered to be delisted from the United States, and bilibili, a Nasdaq China concept stock.
The reporter obtained the roadshow document that he has cooperated with Cai Esheng for many years
The reporter of "Hong Kong 01" obtained a roadshow document of "Yunlong" raising funds for the US dollar fund in 2014.
In addition to introducing the company's investment direction, the content of the roadshow document also highlights the relationship between "Yunlong" and "South Asia Pacific". In the investment committee of the fund manager, in addition to the company's senior management, it also specifically lists the "South South Asia Pacific". The representative further pointed out that "South Asia Asia Pacific" is "strong support from strategic partners", and that Zhai Jun and Cai Esheng "have cooperated for many years and have a tacit understanding".
Yunlong Capital has moved to another office building in Wanchai, but "South Asia Pacific" has not changed its registered address.
The registered address of "South-South International Charity Foundation Co., Ltd." is the address of the Hong Kong subsidiary of "Hainan First Investment Holding Group". The company has moved out.
(Photo by Lao Xianliang)
International Charity Foundation is related to Hainan First Investment Group
As for the "South-South International Charity Foundation Co., Ltd.", in addition to Cai Esheng, there are also Jiang Huicheng and An Jie, who are respectively the "chairman of Hainan First Investment Holding Group" and the director of the Hong Kong company. They are also Hong Kong-registered South-South Investment. Director of the Group Limited.
The foundation does not have a website. In 2020, its income is 400,000 yuan and its expenses are 510,000 yuan. No details are listed.
Jiang Huicheng also attended the event as "Chairman of the Asia-Pacific Committee of the International Organization for South-South Cooperation".
Jiang Huicheng, director of the "South-South International Charity Foundation Co., Ltd.", attended the event as the "Chairman of the Asia-Pacific Committee of the International Organization for South-South Cooperation".
He is a member of the Hainan Provincial Political Consultative Conference.
(Visual China)
"Hainan No. 1 Investment" is also a company in the financial circle, participating in joint-stock banks and financial companies in the Mainland, and investing in the pension and medical industries.
The registered addresses of Nannan International Charity Foundation and First Investment Holdings (Hong Kong) Co., Ltd. are both in Wanchai Central Center. When reporters arrived at the scene, they found that the glass door was covered, and there was still a water sign of First Investment on the floor. Nearby tenants said that the company Moved out for a while.
Cai Esheng served as vice chairman of the China Banking Regulatory Commission from 2005 to 2013.
In 2018, the China Banking Regulatory Commission was transformed into the China Banking and Insurance Regulatory Commission.
(Visual China)
The South-South Cooperation Financial Center told "Hong Kong 01" that the company is a non-profit organization and is not engaged in financial business. It is currently operating normally and mainly conducts development experience sharing and other businesses. Cai Esheng was the former chairman; Commission Limited” has long ceased to operate; the two companies have not been investigated by Hong Kong or Mainland law enforcement authorities.
The reporter also made inquiries to other companies, but did not reply.
On April 13, 2014, the inauguration ceremony of the "South-South Cooperation Financial Center" and the "Asia-Pacific Committee of the South-South Sustainable Development Steering Committee", Cai Esheng and the then President of the United Nations General Assembly John Ashe (right), and the Chairman of the International Organization for South-South Cooperation Luo Francis Lorenzo (left) was the officiating guest.
(Screenshot of Nannan News video)
Cai Esheng founded a number of companies related to the United Nations "South-South Cooperation" project in Hong Kong. John Ashe, former chairman of the United Nations General Assembly, chairman of the South-South Cooperation Sustainable Development Steering Committee, and Francis Lorenzo, chairman of the International Organization for South-South Cooperation Lorenzo), who came to Hong Kong many times to participate in activities, and also issued letters of appointment to Cai Esheng, but the two were involved in the bribery case of Wu Lisheng and He Zhiping.
(see separate article for details)
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