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The comments were made in response to a question about a New York Times article alleging that friends and relatives of China’s top leadership made more than $1 billion from investments in Mr Wanda’s commercial property and cinema companies. Mr Deng’s firm sold them “at a low price point” two months before the company’s multi-billion-dollar initial public offering (IPO) in Hong Kong in December 2014, Mr Wang said. “I don’t think they need a comment.. The company’s website says it is Asia’s largest private property owner. “He sacrificed the opportunity to realise a huge return in investment,” he said. “This incident demonstrates that President Xi is not only strict in managing our country but is even more scrupulous when it comes to family affairs. China’s foreign ministry declined to comment on the allegations on Friday. “There are all kinds of such rumours flowing around,” spokesman Lu Kang said.Chinese President Xi Jinping’s brother-in-law owned shares in a firm controlled by the country’s richest man Wang Jianlin, the Windows Profiles businessman confirmed after allegations that political connections helped Wanda Group grow. An investment company owned by Xi’s brother-in-law, Deng Jiagui, bought shares in Wanda’s commercial property subsidiary in a private placement in 2009, Mr Wang told a Harvard Business School forum on Thursday.” Mr Wang has sought to play down overseas speculation on the link between his success and government ties, which in China can be crucial to seal land deals with local authorities.The declaration by Wang comes after a sweeping anti-corruption drive under Mr Xi has targeted a swathe of prominent cadres and low-level officials. The campaign has seen thousands dismissed from their posts, with some receiving lengthy prison terms, but critics say it has been used to purge Xi’s political rivals. Family members and friends of Xi, his predecessor Hu Jintao, former premier Wen Jiabao and other top officials all had links to companies controlled by Wang, as per the newspaper.
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