China Billionaire & Founder of Commodities Giant Cedar Holdings Zhang Jin Arrested for $2.9 Billion Illegal Fund-Raising of Public Deposits in China by Subsidiary Guangdong Yuanfang Investment
13th May 2023 | Hong Kong
China billionaire & founder of commodities giant Cedar Holdings Zhang Jin (King Cheung) had been arrested for $2.9 billion of illegal fund-raising of public deposits in China by subsidiary Guangdong Yuanfang Investment. Zhang Jin founded Cedar Holdings (Commodities, Diversified) in 1997 and is estimated to have around $3 billion to $4 billion fortune in 2021.
“China Billionaire & Founder of Commodities Giant Cedar Holdings Zhang Jin Arrested for $2.9 Billion Illegal Fund-Raising of Public Deposits by Subsidiary Guangdong Yuanfang Investment “
China Billionaire & Founder of Commodities Giant Cedar Holdings Zhang Jin
Zhang Jin / King Cheung – In 1997, King Cheung founded Cedar Holdings in Guangzhou. Through 20 years development, Cedar Holdings becomes a booming business. It is one of the most promising private enterprises that have emerged in the process of China’s reform and opening-up. As a Guangzhou based private enterprise, Cedar Holdings has been on the list of Fortune Global 500 for four consecutive years, which ranks 359th in 2021. As a devoted philanthropist, King Cheung established Cedar Foundation. Cedar Foundation has made positive contributions to social public welfare undertakings including targeted poverty alleviation, rural revitalization, ecological and environmental governance, traditional culture conservation and education.
Cedar Holdings – Founded in 1997, Cedar Holdings is a Guangzhou home grown private enterprise listed on the Fortune Global 500 and a commodities industry leader. We ranked 359th on 2021 Fortune Global 500, with $33.8 billion in total revenue. Cedar has been on the list for four consecutive years.
We are dedicated to building a world-leading commodities conglomerate. With “Limited Resources, Unlimited Values” as our corporate vision, we value limited resources and create unlimited values. Inspired by a new round of technology revolution and industrial reform, we are trying to cover every segment of the commodities supply chain. While focusing on commodities resources and supply chain services, we aim to explore new grounds in new materials and technology. While making continuous efforts in developing fine chemicals, new metal materials and commodities, we work on industry investment and urban supporting services. We own Cedar International Trust and two A-listed companies – Cedar Development (002485.SZ) and Qixiang Tengda (002408.SZ). Headquartered in Guangzhou, we have branches covering Hong Kong, Singapore, Switzerland, the UK, Germany, France and the U.S., as well as offices spreading across Asia, Europe and Africa.
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