World: Chinese court sentences Canadian billionaire to 13 years in prison for financial crimes

In Taiwan’s Kinmen, people hope for calm amid China tensions

  In Taiwan’s Kinmen, people hope for calm amid China tensions On the outlying islands, mainland China is less than five kilometres away and memories of bombardment strong.On an empty beach along the island’s west coast, strong waves pound a line of rusty defensive stakes, secured in concrete foundations, that run like the spikes on a hedgehog’s back along the rocky coastal stretch.

The Shanghai First People's Court on Friday sentenced Chinese-born Canadian billionaire Xiao Jianhua to 13 years in prison on various charges, including bribery, embezzlement and other financial crimes.

File - A group of people carry the Chinese flag in Hong Kong. - Keith Tsuji/ZUMA Press Wire/dpa © Provided by News 360 File - A group of people carry the Chinese flag in Hong Kong. - Keith Tsuji/ZUMA Press Wire/dpa

He is accused of using his investment group Tomorrow Holding to bribe state officials between 2001 and 2021 to evade his financial responsibilities and obtain unjustified benefits.

Xiao, who pleaded guilty during the trial, has also been ordered to pay a fine of 6.5 million yuan (about 950,000 euros), while Tomorrow Holding will face a penalty of 55 billion yuan (about 8 billion euros).

Arrested five years ago at the Four Seasons Hotel in Hong Kong, he has since been imprisoned in China. The Canadian Embassy in Beijing has been seeking unsuccessfully since July to meet Xiao. The Chinese authorities do not recognize his dual nationality and he is considered a Chinese citizen only.

The Chinese judiciary has also opened legal proceedings against the officials who accepted the bribes for which Xiao has been convicted.

Chinese youth opt out of the rat race in search of personal peace .
Young people are abandoning demanding careers and ditching consumerism championed by the ruling communist party.A breeze catches Ying Feng’s black hair and summer dress as she sits down to watch the city below come to life. A lone bird sings its song.

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