{"id":163909,"date":"2013-10-10T22:13:05","date_gmt":"2013-10-11T05:13:05","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/?p=163909"},"modified":"2013-10-10T22:13:05","modified_gmt":"2013-10-11T05:13:05","slug":"li-pengs-daughter-brokered-secret-deal","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2013\/10\/li-pengs-daughter-brokered-secret-deal\/","title":{"rendered":"Li Peng&#8217;s Daughter Brokered Secret Deal"},"content":{"rendered":"<p><a href=\"http:\/\/www.telegraph.co.uk\/news\/worldnews\/asia\/china\/10370547\/Daughter-of-Butcher-of-Tiananmen-Square-brokered-secret-deal-for-insurance-giant.html\"><strong>Li Xiaolin, the daughter of former premier Li Peng, has been implicated in a multi-million dollar bribery case<\/strong> <\/a>which gave Zurich Insurance a stake in one of China&#8217;s biggest insurance companies. The deal, which was allegedly brokered by Li, was arranged while her father was in office. Malcolm Moore at the Telegraph reports:<\/p>\n<blockquote><p>In 1995, Li Xiaolin, now one of China&#8217;s most powerful women in her own right, introduced executives from Zurich to three Chinese businessmen who held a majority stake in New China Life, the country&#8217;s largest private insurance company.<\/p>\n<p>In return for a $16.9 million (\u00a310.4 million) payment into an offshore Credit Suisse account in the Bahamas, they agreed to sell Zurich almost a quarter of the company, four years before it was legal for foreign firms to make such investments.<\/p>\n<p>Court documents and transcripts obtained by the Telegraph show how the money from Zurich was then used to bribe several high-ranking Communist party officials, who allegedly received thousands of dollars of &#8220;pocket money&#8221; when they visited the United States.<\/p>\n<p>There is no suggestion that Zurich was aware of how the money was subsequently spent. [<a href=\"http:\/\/www.telegraph.co.uk\/news\/worldnews\/asia\/china\/10370547\/Daughter-of-Butcher-of-Tiananmen-Square-brokered-secret-deal-for-insurance-giant.html\"><strong>Source<\/strong><\/a>] <\/p><\/blockquote>\n<p>Li Xiaolin is <a href=\"http:\/\/chinadigitaltimes.net\/2013\/07\/netizen-voices-power-ceo-li-xiaolins-sacrifice\/\">frequently mocked <\/a>by Chinese netizens <a href=\"http:\/\/chinadigitaltimes.net\/2013\/08\/netizen-voices-li-xiaolins-lunch-pearls\/\">for her high-end fashion tastes<\/a>. <a href=\"http:\/\/chinadigitaltimes.net\/china\/li-peng\/\">Her father is nicknamed &#8220;the Butcher of Beijing&#8221; <\/a>for his role in the 1989 military crackdown on protesters. <a href=\"http:\/\/chinadigitaltimes.net\/china\/foreign-companies\/\">Several foreign companies operating in China have come under scrutiny lately<\/a> for questionable business practices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Li Xiaolin, the daughter of former premier Li Peng, has been implicated in a multi-million dollar bribery case which gave Zurich Insurance a stake in one of China&#8217;s biggest insurance companies. The deal, which was allegedly brokered by Li, was arranged while her father was in office. Malcolm Moore at the Telegraph reports: In 1995, [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":163910,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[2,10,14744,14745,14746,100,38,1051],"tags":[1836,982,3823,6902,8077],"class_list":["post-163909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-law","category-level-2-article","category-level-3-article","category-level-4-article","category-politics","category-the-great-divide","category-top-article","tag-bribery","tag-foreign-companies","tag-high-level-corruption","tag-li-peng","tag-li-xiaolin","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.9 (Yoast SEO v23.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Li Peng&#039;s Daughter Brokered Secret Deal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/chinadigitaltimes.net\/2013\/10\/li-pengs-daughter-brokered-secret-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Li Peng&#039;s Daughter Brokered Secret Deal\" \/>\n<meta property=\"og:description\" content=\"Li Xiaolin, the daughter of former premier Li Peng, has been implicated in a multi-million dollar bribery case which gave Zurich Insurance a stake in one of China&#8217;s biggest insurance companies. The deal, which was allegedly brokered by Li, was arranged while her father was in office. Malcolm Moore at the Telegraph reports: In 1995, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"http:\/\/chinadigitaltimes.net\/2013\/10\/li-pengs-daughter-brokered-secret-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"China Digital Times (CDT)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ChinaDigitalTimes\" \/>\n<meta property=\"article:published_time\" content=\"2013-10-11T05:13:05+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2013\/10\/images15.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"620\" \/>\n\t<meta property=\"og:image:height\" content=\"387\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sophie Beach\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cdt\" \/>\n<meta name=\"twitter:site\" content=\"@cdt\" \/>\n<meta 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