Taiwan Businessman: Perils of Investing in China

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Taiwan is the biggest investor in mainland China, and every year many Taiwanese businessmen go public with horror stories about financial persecution, harassment and even arrests in the Mainland. One of these businessmen is Zhang Jiulin. He spent 7 months in detention after fighting to get local officials in Anhui Province to return his property.

Taiwanese businessman Zhang Jiulin's father established the Dongsheng Salt Chemical Company in China's Anhui Province. After Zhang's father passed away, local officials in Anhui occupied the company. Zhang appealed to many levels of Chinese authorities to get the property returned to his family.

[Zhang Jiulin, Taiwanese Businessman]:
"I appealed to over 100 different offices, including the National People's Congress in Beijing, the Ministry of Letters and Appeals in Beijing, the Taiwan Affairs Office and also the provincial Discipline Inspection Commission. The documents detailing my account amounted to a massive pile of papers, over 100 documents, but it was no use."

In the end some of the offices Zhang appealed to collude with the head of the Dingyuan County Public Security Bureau in Anhui Province, a man named Li Jun. They accused Zhang of fraud and detained him for seven months.

[Zhang Jiulin, Taiwanese Businessman]:
"In order to list me as a wanted man and arrest me, they must have had the signature of the chief or police. What is more, from the day I was arrested until the 7th month, 210 days, my wife did not get to see me at all. Every time she wanted to come and see me, the police would tell her, unless the chief of police agrees to it, you cannot see him."

In the end the prosecutor's office decided not to prosecute Zhang, but none of his wealth has been returned to him nor has he received compensation for his seven months in jail.

Zhang is not alone in facing persecution by mainland Chinese authorities. According to the Victims of Investment in China Association, there are about 2000 similar incidents involving Taiwanese businessmen in mainland China every year.

One such businessman is Shen Po-sheng who, like Zhang Liulin, also went public about the loss of over 20 million dollars in assets. Shen's assets were seized by business partners in the Tianjin city government in the early 90s, and after almost 20 years and multiple appeals, Shen managed to get back less than 10 percent of what he lost.

Taiwan is the largest single investor in mainland China, and the fate of Taiwanese businessmen in the Mainland has become a hot topic in Taiwan. This year, Shen and other former businessmen have held at least four marches this year urging President Ma Ying-jeou's government to act on the issue.

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[schlagerhansi]

@scorpiooooooh

Who cares? Whoever invests money in one of them has only himself to blame ;-)

[GenaTrius]

3:19 I think you guys want to revise your map back there. New York is a bit less in-Florida than that.

[scorpiooooooh]

Is it possible that China and Russia are having a contest to see who can be the most corrupt?