(Bloomberg) – The Financial Times reported on Sunday that the Chinese government is investigating Liu Hai’s financial son, former deputy prime minister, who chairs trade talks with the first Trump administration.
Liu Tianran, who founded the investment company Skycus Capital in 2016 and served as its inaugural chairman, has been under investigation and may have lost his freedom, while FT quoted one of Skycus’ former colleagues. The British bank said it had previously confirmed that the financier was Liu’s son.
The investigation is said to have been triggered by Liu Tianran’s connection to a planned IPO, which was stopped, while Ant Group believes one of the people said.
The UK Bank added that authorities found unrelated corruption cases during the investigation. According to newspaper reports, President Xi Jinping has obtained a report on the claim.
The Central Committee’s spokesperson’s office had two calls for the Chinese Communist Party’s disciplinary inspections to be unanswered from outside working hours, while the office’s fax failed. Skycus has not commented immediately.
Liu Tianran resigned as chairman of Skycus in April 2017, and his father handed the 25-member Politburo of the Communist Party of China to the Politburo of the 25-member Politburo later that year, and FT called the business record a display. After that, he continued to reach a deal for the company, FT said.
Skycus accepted funds from tech companies such as Tencent and JD.com and invested in their development business, the report said.
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