Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Tencent’s PUBG Mobile Game Hits $3 Billion Milestone
Luckin Coffee Shareholders Vote to Remove Chairman, Bloomberg Reports
France Won’t Ban But Will Discourage Use of Huawei 5G Equipment, Official Says
Trending in China: ‘Lipstick King’ Li Jiaqi Settles in Shanghai, Prompting a Rethink of ‘Talent’
Tencent Plays in U.S. With California Game Studio Launch
Trending in China: Shenzhen Thinks Only Children Should Get Paid Leave to Look After Their Parents - Cue Heated Debate
German Drugmaker BI Launches Shanghai Center to Harness Chinese Expertise
Chinese Self-Driving Truck Firm Aims to Cover Most of U.S. by 2024
Trending in China: Chinese Netizens Tell Indian Prime Minister Modi To ‘Shut The Door On The Way Out’ As He Quits Weibo
Trending in China: If You Can’t Beat Them, Join Them – Why Tencent is Laughing At Itself
Meituan Eyes Robot-Enabled Deliveries with $14 Million Investment in PuduTech
India Ban Could Hit TikTok’s Parent Company to the Tune of $6 Billion
Sina Weibo to Issue $750 Million in Bonds
Embattled Leshi Forced to Sell Smart TV, Livestreaming Trademarks and Swiss Cleaning Carmaker Launch Driverless Street Sweeper
Trending in China: How an ‘Old Godmother’ Took on China’s Internet Giant and Won
China’s IT Spending Expected to Hit $297 Billion: IDC
TikTok Moves Data Protection of European Users from U.S. to U.K. and Ireland
Trending in China: Dazed and Confused – China’s Elderly in Online Pandemic World
Alibaba-Owned Taobao Live Sacks Former Operating Head for Corruption
Wife of Imprisoned Investment Guru Eyes Divorce and 6 Billion Yuan in Assets

By Yue Yue and Zhao Runhua / Apr 02, 2019 05:21 PM / Politics & Law

Xu Xiang. Illustration by Caixin

Xu Xiang. Illustration by Caixin

The wife of an imprisoned former private equity guru is going to great lengths to acquire some of her husband’s 20 billion yuan ($2.98 billion) worth of assets, which are currently locked up by regulators: sue him, then divorce him.

Ying Ying, wife of Xu Xiang, who was sentenced to five and a half years in prison in 2017 for trading manipulation, filed for divorce with Xu on March 20 at a Shanghai court, divorce documents acquired by Chinese media show.

Ying said that life has been hard since Xu was arrested, particularly raising their son on her own, which has worn down their relationship. Apart from a divorce, Ying is also requesting custody of the son, as well as her portion of the assets she jointly owns with Xu.

It is not known publicly if Ying has provided supplementary materials, such as asset ownership documents.

Ying told Caixin that around 13 billion yuan out of Xu’s 20 billion yuan worth of assets frozen by regulators are “legal” assets that are not involved in Xu’s cases, including those belonging to Xu’s parents, son and affiliate companies. The wife thus applied for assets worth at least 6 billion yuan in Qingdao, where Xu is being held, but failed to get anything.

The Shanghai court said a case regarding the divorce will be set up after a mediation, which will last no longer than 60 days.

Ying and Xu met in 1998, and got married in 2004, in east China’s Ningbo city.

Related: How a Detained Stock Trader Played with Fire

Share this article
Open WeChat and scan the QR code