Saturday, 28 May 2016

Corrupt Chinese property tycoons linked to huge political donations

Huang Xiangmo with Australian Prime Minister Malcolm Turnbull

This stinks.

So to summarise, a Chinese property tycoon, Huang Xiangmo, has left China to avoid being caught up in the scandal of the anti-corruption drive over there, that bought down that person a while back in 2014, "Party Secretary Wan Qingliang" which even made the main stream news here in Australia. Quite unusual.

Well guess where he's come? Australia. Apparently throwing money around like there's no tomorrow. Including at both main political parties. Totaling a $million each.

Another developer, Guangzhou R&F Properties, has been linked to a $100,000 donation to the Lieberal party. Which just happens to be the gov. Which just happens to not want to touch negative gearing.....

Looks to me like it's the property tycoons vs the housing poor. How about investing in affordable housing instead of speculative prices in a distorted market that favours the landlord?
China’s investments in Australia’s property market have often been hailed by politicians as a source of economic growth for the country, but reports this month indicate that the activities of at least two mainland developers may also have had direct benefits for the politicians themselves. 

A seemingly unrelated pair of reports this month in the Australian media have established links between Chinese property developers investing down under, including Hong Kong-listed homebuilder Guangzhou R&F, and mammoth donations to the campaigns of politicians at the local and national level. 

A second mainland developer active in Australia has now been tied to a corruption scandal in southern China that ultimately toppled Guangzhou Party Secretary Wan Qingliang in 2014. 

As many Australians grapple with the challenges posed by skyrocketing real estate prices, and Chinese companies continue to bid aggressively for Aussie property assets, the reports of influence-buying increase the likelihood of a political backlash against Chinese investors. Mingtiandi