What a tycoon’s trial says about the rot in China’s financial system
Even the charges against Xiao Jianhua have not been made public
Insiders have been waiting for half a decade for official word on the whereabouts of Xiao Jianhua, an erstwhile billionaire financier. So far they have heard nothing, not even as his trial kicked off in a Shanghai courtroom on July 4th. All details of the charges he faces have been kept secret. The only official recognition of the trial itself has been from Canada’s foreign ministry (Mr Xiao is a Canadian citizen), which says its diplomats have been denied entry to the proceedings.
This article appeared in the Finance & economics section of the print edition under the headline “Case closed”
Finance & economics July 9th 2022
- America rethinks its strategy for taking on China’s economy
- Do cheaper commodities herald a recession?
- What a tycoon’s trial says about the rot in China’s financial system
- Crypto’s last man standing
- As interest rates climb and the economy cools, can companies pay their debts?
- Are central banks in emerging markets now less of a slave to the Fed?
From the July 9th 2022 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Finance & economics
Europe could be torn apart by new divisions
The continent is at its most vulnerable in decades
How corporate bonds fell out of fashion
The market is at its hottest in years—and a shadow of its former self
An American purchase of Greenland could be the deal of the century
The economics of buying new territory
China’s markets take a fresh beating
Authorities have responded by bossing around investors
Can America’s economy cope with mass deportations?
Production slowdowns, more imports and pricier housing could follow
Would an artificial-intelligence bubble be so bad?
A new book by Byrne Hobart and Tobias Huber argues there are advantages to financial mania