Wikipedia

Hua Jing Society

The Hua Jing Society is an organization based in Hong Kong that serves to network princelings. It is a social club for princelings who have studied outside of China and then moved to Hong Kong.[1]

Hua Jing Society
Traditional Chinese香港華菁會
Simplified Chinese香港华菁会

Founding by Fang Fang edit

The organization was started in 2011 by Fang Fang, who was CEO of JP Morgan's China division.[2] Fang resigned in March 2014 while JP Morgan was under investigation for hiring princelings, and was quoted as saying "You all know I have always been a big believer of the Sons and Daughters program."[3] Fang was involved in the giving Gao Jue, son of Gao Hucheng, a job within JP Morgan even though Gao Jue was deemed unqualified by the bank.[4] The New York Times stated that Fang's "deep network of contacts in Chinese government and business circles helped introduce a flow of lucrative underwriting and advisory roles to the bank."[5]

Two days after his resignation, ICAC searched JP Morgan's office in Central to get documents from his office. Fang was arrested by ICAC in May 2014 and released on bail, with the condition that he not leave Hong Kong.[3] In 2016, JP Morgan paid USD $264 million to the United States to resolve allegations it hired Chinese princelings.[6] In 2017, The Federal Reserve of the United States said it was seeking to fine Fang Fang $1 million and permanently ban him from working in the banking industry for his involvement in a corrupt hiring program. [7]

History edit

According to the 2019 book Routledge Handbook of Contemporary Hong Kong, the organization participates in activities that emphasize cultivating interactions between Hong Kong and mainland China.[8] It was a supporter of CY Leung's election in 2012, and after he became Chief Executive, many members of the Hua Jing Society were appointed into government committees. Examples listed by the book include Fang Fang, who was appointed to the government's Commission of Strategic Development twice, spanning 2013 to 2017.[9][10] Another member, Judy Chen Qing, served in the Central Policy Unit,[11] the Major Sports Events Committee, and the Civic Education Committee. Chen Shuang, another member, was appointed to the newly-created Financial Services Development Council in 2013.

Notable members and description edit

The Routledge Handbook of Contemporary Hong Kong provides backgrounds about some members as of May 2017, including but not limited to the following:[8]

Chairman:

Chair:

Executive Chair:

Vice Chair:

  • Dong Jie- Granddaughter of Dong Qiwu, a former general of the PLA. Dong Jie is married to Frank Chan Shung-fai, who is a member of the Election Committee and a frequently absent[15] member of the North District Council. Frank Chan Shung-fai was also named in the Paradise Papers.[16]
  • Meng Mingyi- son of Meng Xiaosu, the "godfather of real estate," who was also the former secretary of Wan Li[17]
  • Zhang Sheng- Undersecretary General of Hong Kong United Youth Association
  • Chen Shuang- CEO of CIMC Capital[18]

Honorary Chairmen:

Others:

Honorary Patrons:

See also edit

References edit

  1. ^ Hamilton, Clive (2020-06-12). "Bulls in a China shop: How Beijing cultivated Wall Street's giants". The Sydney Morning Herald. Retrieved 2020-08-31.
  2. ^ "'Little darlings summer camp': CY Leung faces fresh questions over his daughter's JP Morgan internship". Hong Kong Free Press HKFP. 2016-11-24. Retrieved 2020-08-31.
  3. ^ a b Forsythe, Neil Gough and Michael (2014-05-21). "Former Chief of JPMorgan's China Unit Is Arrested". DealBook. Retrieved 2020-08-31.
  4. ^ Matthews, Ned Levin, Emily Glazer and Christopher M. (2015-02-06). "In J.P. Morgan Emails, a Tale of China and Connections". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-08-31.{{cite news}}: CS1 maint: multiple names: authors list (link)
  5. ^ Gough, Neil (2014-03-25). "Top China Banker for JPMorgan to Retire Amid Hiring Inquiry". 纽约时报中文网 (in Chinese). Retrieved 2020-08-31.
  6. ^ "JPMorgan to pay $264 million to resolve China hiring probe: SEC, DoJ". Reuters. 2016-11-17. Retrieved 2020-08-31.
  7. ^ Burne, Katy (2017-03-10). "Fed Seeks to Ban 2 Former J.P. Morgan Executives Over Hiring Program". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-02-03.
  8. ^ a b Routledge Handbook of Contemporary Hong Kong. 2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN: Routledge. 2019. pp. 443–446. ISBN 978-1-315-66053-0.{{cite book}}: CS1 maint: location (link)
  9. ^ "Appointments to Commission on Strategic Development". www.info.gov.hk. Retrieved 2020-09-01.
  10. ^ "Policy Innovation and Co-ordination Office – The Commission (from 2015.1.18 to 2017.6.30)". www.pico.gov.hk. Retrieved 2020-09-01.
  11. ^ "LegCo OFFICIAL RECORD OF PROCEEDINGS Wednesday, 28 March 2012" (PDF).
  12. ^ a b c "J.P. Morgan's dealmaker in China steps down. Who's next?". Fortune. Retrieved 2020-08-31.
  13. ^ "Hong Kong Faces". South China Morning Post. 23 July 2009. Retrieved 2020-09-01.
  14. ^ "Council". english.ccg.org.cn. Retrieved 2020-09-01.
  15. ^ "No-shows and early exits – rural chiefs' dismal council attendance records". South China Morning Post. 2019-01-05. Retrieved 2020-09-01.
  16. ^ "CHAN – Shung Fai | ICIJ Offshore Leaks Database". offshoreleaks.icij.org. Retrieved 2020-09-01.
  17. ^ Wee, Sui-Lee (2016-12-26). "China's 'Godfather of Real Estate' Pitches Reverse Mortgages to Skeptical Elders". The New York Times. ISSN 0362-4331. Retrieved 2020-09-01.
  18. ^ "Our Hong Kong Foundation".
  19. ^ Stevenson, Alexandra; Forsythe, Michael (2020-08-12). "Luxury Homes Tie Chinese Communist Elite to Hong Kong's Fate". The New York Times. ISSN 0362-4331. Retrieved 2020-08-31.
  20. ^ "Registration of Financial and Other Interests" (PDF).
  21. ^ "Class of 2016". Asia Society. Retrieved 2020-08-31.
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