Conned in China, Taiwanese Businesswoman Sounds Warning
Proposed protection agreement between Taiwan and China criticized as
TAIPEI—With an agreement between Taiwan and China to protect the interests of
Taiwan’s businesspeople on the mainland expected soon to be signed, a
businesswoman who lost everything in investments on the mainland has stepped
forward asking her government not to play the part of a fool. She is one of
10,000 similar cases, according to a Taiwan NGO.
Ms. Ding Xuyun protested
in front of Taiwan’s Legislative Yuan (Taiwan’s legislature) on Sept. 2. Ding
believes that signing such an agreement would give Taiwan’s businesses a false
sense of security. “This is just wishful
thinking,” she said. “It will only cause more businesses to fail.”
any new agreements are considered, Ding says previous cases should be resolved.
Her own efforts to gain legal redress in China and her appeals to authorities in China and to Taiwan’s mainland
affairs council have led to dead ends.
Ding sees the Chinese Communist
Party as the ultimate culprit and says she has stepped forward to warn those in
a democratic society about it.
“[Taiwan’s] President Ma needs to be
vigilant. The government must take tough measures to protect the Taiwanese
people against the Communist Party’s liars,”she said. “They are crooks and
Ding said that in
2008, she bought 10.1 million shares in a jewelry producer, Eastern Gold Jade
Company, at the price of 5.5 yuan (US$0.86) per share from Wu Zhengxin, a
resident of Hubei Province in China. The total investment was over 50 million
yuan (US$7.8 million).
Later, when gold
prices surged, Wu reneged, and colluded with Wang Chaoyang, a notary
public in Wuhan, Hubei, to produce fake documents. Then Wu and a friend of his
at the People’s Court used their power to auction off the gold shares that
should have belonged to her.
Based on the price of gold on Sept. 2, 2011 (the day Ding protested in
front of legislative Yuan), which works out to 22 yuan (US$3.44) per share, Ding
missed out on millions of American dollars in the transaction.
three years of pursuing her case, Ding said that she was rejected by everyone.
Her case was not accepted by the Public Security Bureau in Wuhan.
Director Liu Jianzhong of the Taiwan Affairs Office of the State Council
in China told her, “This has nothing to do with me. Go talk to Hu Jintao
When she sought help from the Mainland Affairs Council in
Taiwan, she was told that the director was busy and could not see
Adding injury to financial insult, on Aug. 5, 2009, Ms. Ding was
beaten by a security guard at the notary’s
office, suffering injuries from which it took
her more than one year to recuperate.
That very same day the Straits
Exchange Foundation had sent a request to the Association for Relations Across
the Taiwan Straits to assist with the investigation and to protect Ding’s
Ms. Ding said that she was conned in all three
investments she made in China. “I have nothing left.”
She suspects she
is barred from traveling to China again, but she doesn’t really want to go
anyway, since she believes her life could be in danger at any
Mainland Affairs Minister, Liu Te-Shun, claimed in a press conference several
days ago that the new agreement would be strenuously upheld after it was signed
and would not be relegated to the bookshelf. Many Taiwanese, particularly the
victims of Chinese businessmen, are skeptical.
William Gao, chairman of
Taiwan’s Victims of Investments in China Association, said that the problem is
that the Chinese regime has no real desire to solve the problem. There have been
cases that Taiwanese businessmen have won in higher courts, but the verdict was
not implemented by local law enforcement authorities, Gao said.
Radio Free Asia interview, Gao said that there is a backlog of over 10,000 cases
similar to Ding’s, and that without solving those problems first, signing the
agreement will only help the Chinese regime’s propaganda.
President Ma to be vigilant and to learn from the disastrous experiences
suffered by Taiwanese businesses.
“Don’t be a fool and try to curry
favors from the Communist Party,” she said. Although Ma may not have ill
intentions himself, she believes his naiveté may lead him to be complicit in
original Chinese article.