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China Innovation bosses acquitted by Taipei court

The Taipei District Court yesterday acquitted China Innovation Investment Ltd (中國創新投資) executive director Xiang Xin (向心) and his wife, acting director Kung Ching (龔青), of money laundering charges. Xiang and Kung were accused of laundering money from the now-defunct Guotai Investment Holding Group (國太投資), a Shanghai-based firm, to an account under the couple’s name in Hong Kong before transferring the funds, about NT$300 million (US$10.71 million) to China Innovation Investment to purchase real estate in Taipei’s Xinyi District (信義). LACK OF PROOF The couple were unaware that the money from Guotai Group was sourced by criminal means, nor could it be proved that

Chinese business couple cleared of money laundering charges

Taipei, Feb. 24 (CNA) Xiang Xin (向心), executive director of Hong Kong-based China Innovation Investment, and his wife Kung Ching (龔青) who is a company alternate director, were acquitted of money laundering charges by Taipei District Court on Thursday after having been barred from leaving Taiwan since November 2019.

Taiwan Government and International – May 2021 - Taiwan Business TOPICS

Taiwan Business TOPICS By Austin Babb and Jason Wu Guidelines, Visit Show Improving U.S. Ties U.S.-Taiwan relations are showing further signs of strengthening as Washington continues to make overt gestures of support for Taiwan. The U.S. Department of State recently released an update to guidelines regarding interactions between American diplomats and their Taiwan counterparts. In a short press statement, the State Department highlighted Taiwan as a “vibrant democracy and an important security and economic partner,” and said that the new guidelines “liberalize guidance on contacts with Taiwan.” Taiwan’s representative to the U.S. Hsiao Bi-khim and other Taiwanese officials and politicians took to Twitter to welcome the State Department’s decision.

The Liberty Times Editorial: Reset cross-strait ties with caution

The Liberty Times Editorial: Reset cross-strait ties with caution Mainland Affairs Council Minister Chiu Tai-san (邱太三) recently told reporters that in the post-COVID-19 pandemic period, a range of cross-strait exchanges would slowly be restored, and that prioritizing a return to normality and order to the exchanges was an opportunity for Taiwan to “right the ship.” For example, Chinese businesspeople could be allowed to apply for visas for Taiwan again, and tourist and educational exchanges could be reinstated. Chiu reiterated that it was an opportunity to increase the number of exchanges, and to examine the situation that led to the breakdown in exchanges.

Taiwan Charges Alleged Chinese Spies With Money Laundering

Taiwan Charges Alleged Chinese Spies With Money Laundering A Hong Kong couple was recently indicted for allegedly violating the Money Laundering Control Act in Taiwan, after being accused as Chinese spies by a defected Chinese military intelligence agent in 2019. Xiang Xin, CEO of the Hong Kong-based China Innovation Investment Ltd. (CIIL) and China Trends Holdings Ltd., and his wife, Kung Ching as the alternate director, were charged with money laundering by the Taipei District Prosecutors Office (TDPO) on April 8, being suspected of remitting illicit money to banks in Taiwan to purchase luxury homes. These are the first charges against the couple since November 2019, when self-claimed Chinese spy Wang “William” Liqiang who defected to Australia, claimed that Xiang and Kung were his former bosses who hired him to interfere with Taiwan and Hong Kong affairs.

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