Author & Proofreading: Ermat, 萌萌的朋克/G-Translators
Translation & Proofreading: 霹雳年2020, 北仲久美子, Tracy/Tokyo Sakura Group
Image source: Sina
On January 29, 2021, many Chinese media reported that HNA Group applied to the court for bankruptcy and restructuring because it was unable to repay its due debts. HNA Group announced to cooperate with the court to conduct judicial review in accordance with the law, actively promote debt disposal work, support the court in protecting the legal rights of creditors in accordance with the law, and ensure the smooth progress of enterprise production and operation.
This announcement about HNA reminds us of the Wang Qishan family who controls it, and the “Voice of America cut-off incident” on April 19, 2017, when billionaire Guo Wengui exposed the true face of childless “Contemporary Bao Gong” Wang Qishan for the first time in the world. Following this shocking revelation, Mr. Guo once again exposed on May 29 that Wang Qishan controlled the HNA Group and that he was the true owner of the HNA group. The true face of HNA Group is also revealed.
Mr. Guo said,“The financial assets controlled by Wang Qishan’s family. As I said, CCP’s total financial assets are 180 trillion yuan, almost belonging to Wang Qishan, not his own, but he can actually control and influence. How much of the 180 trillion yuan did Wang Qishan take away? In addition to HNA Group’s two trillion yuan, how much was taken away? Everyone can check where has Communist China’s bad assets flowed in recent years? HNA Group’s two trillion loans were eventually classified as non-performing assets, and the non-performing assets will enter the China Jianyin Investment Co. Ltd (JIC), which is fully controlled by Wang Qishan. JIC switched back to the HNA Group at zero price, and Wang took the money. In past two decades, JIC has disposed of 50 trillion yuan in assets. This state-level non-performing assets disposal company is completely under the operation of a black box. Who controlled this, Secretary Wang Qishan himself. Two years ago, Secretary Wang Qishan changed JIC into a privately owned enterprise, and named his family member Yao Qing as the shareholder. He registered a company called Jiai Company in May 2016 and became a shareholder of JIC to deal with non-performing assets.”
In October of that year, Mr. Guo revealed a series of little-known secrets about the HNA group’s corporate structure, shareholding structure, controllers, managers, and its relationship with the CCP’s overseas intelligence agencies. People have seen how Wang Qishan used his own power to obtain massive loans from domestic financial institutions, made huge acquisitions overseas, and then used improper means to transfer state-owned assets to his family. His wife Yao Mingshan, his adopted daughter Sun Yao, his wife’s nephew Yao Qing, his illegitimate son Guan Jun, and Liu Chengjie have also been exposed one after another.
Every word, every person, every single event and video mentioned by Mr. Guo violently attacked this behemoth like a hammer, which also caused international financial capital to stop investing in HNA, leading to the rapid interruption of its capital chain that year. Prior to this, HNA’s assets included New York’s prime real estate, a large stake in Deutsche Bank AG, golf courses and the hotel chain Hilton Worldwide Holdings, but by 2018 its debt soared to $98 billion, and HNA converted from a crazy acquisition to a liquidation sale.
HNA’s rapid decline, huge debts and investigation by many countries have intensified its infighting and the competition for interests. This directly led to Wang Jian, chairman of the HNA Group, who fell to death while posing for photos on a France trip. He was the white glove of several families and had hundreds of bank accounts. As of the end of 2019, HNA has sold more than 300 billion yuan in assets, but it was still to no avail. Now HNA has finally announced bankruptcy and restructuring.
But according to Mr. Guo’s voice message on January 29, HNA Group’s bankruptcy restructuring is not simple, but is the result of the struggle and compromise of interests among the four gangs of the party. The essence is that they take away good assets and leave bad assets to the people. Why can’t I do this? Why can’t private entrepreneurs do this in Communist China? HNA has 700 billion yuan in open accounts and 1.6 trillion yuan in dark accounts. Bankruptcy and restructuring are actually cheating money and legally cheating money. The government-related company is allowed to enter bankruptcy and restructuring, but the non-government-related one will be alleged fraud.
Obviously, the thieves of the state escape by crafty scheme, leaving high-quality assets for themselves, leaving heavy debts to local governments and the people, and confiscating the people’s hard-earned money again when HNA is bankrupt. There is no doubt that this is a blatant robbery that makes the people who suffer from the CCP virus worse.
But what they did can only further awaken the people and resist. The collapse of the HNA Empire is not the end of the story, but the beginning of the recovery of kleptocrats’ overseas assets!