Xu Xiang (Chinese: 徐翔; pinyin: Xú Xiáng; born February 1977 in Ningbo, Zhejiang) is a former Chinese private placement investor who served as General Manager of Zexi Investment (泽熙投资), a Chinese investment company. He has been variously called "China's Carl Icahn", "China's Warren Buffett", and "Big Man of Private Placement" (私募一哥) by fellow Chinese investors. On November 1, 2015, Xu Xiang was arrested by the police for insider trading.[4][3][5]
Xu Xiang was born in Ningbo, Zhejiang in 1977. In 1993, Xu skipped the college entrance exams and started investing in stocks, using money from his parents as initial capital at China Galaxy Securities's trading hall on South Liberation Road in Ningbo.[6] He was one of the most prominent investors in Zhejiang before 2000, with several hundred thousand yuan under his management.[1][7] In 2003, Xu was reported by the media for the first time as the "captain of the Limit-up Kamikaze Squad" (涨停板敢死队总舵主).[1][6]
Shanghai career
Xu Xiang moved to Shanghai in 2005. According to Economic Information Daily (经济参考报), Xu arrived at his office at 8.45am every day and often went to bed at around 2am. Studying stocks was his only hobby. He founded Zexi Investment in 2009 with 30 million yuan in registered capital.[7] According to the official website of Zexi Investment, the Zexi No. 1 Fund and the Zexi No. 3 Fund have both increased by about 3,000% since 2010. Xu and his relatives reportedly owned a combined fortune of US$2.2 billion.[3]
In July 2011, it was rumored that Zexi Investment was under investigation by China's regulatory authorities, but Xu denied any illegal operations.[8] In 2015, Xu reportedly manipulated the stock market during the stock market crash that summer.[9]
Arrest and trial
On November 1, 2015, Xu Xiang was arrested by the police for insider trading. To assist the arrest, the highway patrol sealed off the 35.4 km Hangzhou Bay Bridge for more than 30 minutes. Xinhua, the official news agency in China, released a brief statement after the arrest.[3] When Xu was arrested, he was on his way from Shanghai to Ningbo to celebrate his grandmother's birthday. Xu was later sent to Beijing by the police for interrogation.[10] Some media reported that Xu's arrest was linked to China's anti-corruption campaign.[11]
On April 29, 2016, Xu was formally charged with manipulating the securities market and insider trading.[12]
On January 23, 2017, Xu was sentenced to five and a half years in prison and was fined 11 billion yuan (US$1.6 billion).[13]
On July 9, 2021, Xu was released from prison after serving his five and a half years sentence.[14]
Family
Xu's father, Xu Boliang (徐柏良), was the legal representative of Zetian Investment.[15] His mother, Zheng Suzhen (郑素贞), held some stocks. Her stocks were frozen until November 2017. Xu's family controlled Ningbo Zhongbai (宁波中百), a department store in China.[16] He is married to Ying Ying (应莹).[17]
References
^ abcd. Sunning View. November 3, 2015. Archived from the original on November 24, 2015.
^"草根徐翔的逆袭之路". Hexun. November 6, 2015. Retrieved November 23, 2015.
^ abcd"Top fund manager nabbed in China graft probe". The Straits Times. November 4, 2015. Retrieved November 23, 2015.
^"中國「私募一哥」涉內線交易 遭警方帶走". Apple Daily (Taiwan). November 2, 2015. Retrieved November 23, 2015.
^Ren, Daniel (3 November 2015). "Billionaire hedge fund manager known as 'China's Warren Buffett' in dramatic highway arrest for insider trading: Investment wizard likened to Warren Buffett is latest casualty in probe of market irregularities". South China Morning Post. Retrieved 17 January 2016.
^ ab"China's 'Limit-up Kamikazes' thrived in wild-west stock market". Financial Post. November 4, 2015. Retrieved November 23, 2015.
^ ab"Zexi Investment's Xu Xiang: The self-made man with the Midas touch". South China Morning Post. November 4, 2015. Retrieved November 23, 2015.
^"In China's Widening Stock Crackdown, It's 'Kill the Chicken to Scare the Monkey'". The Wall Street Journal. November 12, 2015. Retrieved November 23, 2015.
^"The anti-corruption campaign sweeping China is coming for the finance sector — and they should be terrified". Business Insider. November 16, 2015. Retrieved November 23, 2015.
^"'China's Warren Buffett' formally arrested on charges of manipulating securities market and inside trading". South China Morning Post. April 29, 2016. Retrieved April 29, 2016.
^Chinese trader Xu Xiang jailed, $2.3b in fines handed out
^"Stocks Associated With Arrested China Fund Manager Soar After Holdings Frozen". Forbes. November 10, 2015. Retrieved November 23, 2015.
^. Xinhua News Agency. Archived from the original on 2014-12-09.
February 24, 2023
xiang, chinese, sports, shooter, sport, shooter, this, chinese, name, family, name, chinese, 徐翔, pinyin, xiáng, born, february, 1977, ningbo, zhejiang, former, chinese, private, placement, investor, served, general, manager, zexi, investment, 泽熙投资, chinese, in. For the Chinese sports shooter see Xu Xiang sport shooter In this Chinese name the family name is Xu Xu Xiang Chinese 徐翔 pinyin Xu Xiang born February 1977 in Ningbo Zhejiang is a former Chinese private placement investor who served as General Manager of Zexi Investment 泽熙投资 a Chinese investment company He has been variously called China s Carl Icahn China s Warren Buffett and Big Man of Private Placement 私募一哥 by fellow Chinese investors On November 1 2015 Xu Xiang was arrested by the police for insider trading 4 3 5 Xu Xiang徐翔BornFebruary 1977 age 45 46 1 Ningbo Zhejiang 1 NationalityChineseOther namesXu Qiang 徐强 2 Big Xu 3 EducationHigh school levelOccupationPrivate placement investorSpouseYing Ying 应莹 Parent s Xu Boliang 徐柏良 father Zheng Suzhen 郑素贞 mother Contents 1 Career 1 1 Early life 1 2 Shanghai career 1 3 Arrest and trial 2 Family 3 ReferencesCareer EditEarly life Edit Xu Xiang was born in Ningbo Zhejiang in 1977 In 1993 Xu skipped the college entrance exams and started investing in stocks using money from his parents as initial capital at China Galaxy Securities s trading hall on South Liberation Road in Ningbo 6 He was one of the most prominent investors in Zhejiang before 2000 with several hundred thousand yuan under his management 1 7 In 2003 Xu was reported by the media for the first time as the captain of the Limit up Kamikaze Squad 涨停板敢死队总舵主 1 6 Shanghai career Edit Xu Xiang moved to Shanghai in 2005 According to Economic Information Daily 经济参考报 Xu arrived at his office at 8 45am every day and often went to bed at around 2am Studying stocks was his only hobby He founded Zexi Investment in 2009 with 30 million yuan in registered capital 7 According to the official website of Zexi Investment the Zexi No 1 Fund and the Zexi No 3 Fund have both increased by about 3 000 since 2010 Xu and his relatives reportedly owned a combined fortune of US 2 2 billion 3 In July 2011 it was rumored that Zexi Investment was under investigation by China s regulatory authorities but Xu denied any illegal operations 8 In 2015 Xu reportedly manipulated the stock market during the stock market crash that summer 9 Arrest and trial Edit On November 1 2015 Xu Xiang was arrested by the police for insider trading To assist the arrest the highway patrol sealed off the 35 4 km Hangzhou Bay Bridge for more than 30 minutes Xinhua the official news agency in China released a brief statement after the arrest 3 When Xu was arrested he was on his way from Shanghai to Ningbo to celebrate his grandmother s birthday Xu was later sent to Beijing by the police for interrogation 10 Some media reported that Xu s arrest was linked to China s anti corruption campaign 11 On April 29 2016 Xu was formally charged with manipulating the securities market and insider trading 12 On January 23 2017 Xu was sentenced to five and a half years in prison and was fined 11 billion yuan US 1 6 billion 13 On July 9 2021 Xu was released from prison after serving his five and a half years sentence 14 Family EditXu s father Xu Boliang 徐柏良 was the legal representative of Zetian Investment 15 His mother Zheng Suzhen 郑素贞 held some stocks Her stocks were frozen until November 2017 Xu s family controlled Ningbo Zhongbai 宁波中百 a department store in China 16 He is married to Ying Ying 应莹 17 References Edit a b c d Private prisoner from death squads to a brother Xu Xiang curtain call Sunning View November 3 2015 Archived from the original on November 24 2015 草根徐翔的逆袭之路 Hexun November 6 2015 Retrieved November 23 2015 a b c d Top fund manager nabbed in China graft probe The Straits Times November 4 2015 Retrieved November 23 2015 中國 私募一哥 涉內線交易 遭警方帶走 Apple Daily Taiwan November 2 2015 Retrieved November 23 2015 Ren Daniel 3 November 2015 Billionaire hedge fund manager known as China s Warren Buffett in dramatic highway arrest for insider trading Investment wizard likened to Warren Buffett is latest casualty in probe of market irregularities South China Morning Post Retrieved 17 January 2016 a b China s Limit up Kamikazes thrived in wild west stock market Financial Post November 4 2015 Retrieved November 23 2015 a b Zexi Investment s Xu Xiang The self made man with the Midas touch South China Morning Post November 4 2015 Retrieved November 23 2015 泽熙徐翔等人被警方依法调查 涉嫌三大罪名 In China s Widening Stock Crackdown It s Kill the Chicken to Scare the Monkey The Wall Street Journal November 12 2015 Retrieved November 23 2015 徐翔被捕 致泽熙停止运转 背后或涉及多名部级官员 sohu com The anti corruption campaign sweeping China is coming for the finance sector and they should be terrified Business Insider November 16 2015 Retrieved November 23 2015 China s Warren Buffett formally arrested on charges of manipulating securities market and inside trading South China Morning Post April 29 2016 Retrieved April 29 2016 Chinese trader Xu Xiang jailed 2 3b in fines handed out 昔日私募一哥徐翔今日出狱 徐翔家人 通知了 周五去接 新浪财经综合 2021 07 09 Retrieved 2021 07 09 徐翔父亲被挖出实际控制宁波中百 qq com Stocks Associated With Arrested China Fund Manager Soar After Holdings Frozen Forbes November 10 2015 Retrieved November 23 2015 炒股一家亲 那些有钱又任性的牛散们 Xinhua News Agency Archived from the original on 2014 12 09 Retrieved from https en wikipedia org w index php title Xu Xiang amp oldid 1089838300, wikipedia, wiki, book, books, library,
