Exclusive

According to the judgment of Qingdao Intermediate People's Court, Xu Xiang, a private brother, will serve his sentence on July 9, 20021. As the former head of Shanghai Zexi Investment Management Co., Ltd., Xu Xiang/Kloc-entered the stock market at the age of 0/5 and became famous at a young age. His high rate of return and precise control of the market are industry miracles.

20 15 1 1 Xu Xiang was detained by the public security organs. 20 17 Qingdao intermediate people's court sentenced Xu Xiang to five years and six months in prison for manipulating the securities market. At this point, the legend is gone.

However, five years later, after the judgment of Xu Xiang case, it did not enter the implementation stage, and Xu Xiang's divorce, property screening and other issues were exposed one after another, and there is still no definite answer. Recently, Xu Xiang's parents, Xu Bailiang and Zheng, accepted an exclusive interview with China Business News and responded to some public concerns. The following is an interview record:

China Business News: Was Xu Xiang the same as other children when he was a teenager?

Zheng: We are all ordinary Ningbo people, ordinary workers in Ningbo state-owned enterprises in the 1980s, and their family conditions are also very ordinary.

Xu Xiang was born in 1977. Our family lives in my husband's room in Jiangbei, Ningbo. We are all working and busy. Xu Xiang is no different from other children of ordinary workers' families.

China Business News: When Xu Xiang was studying, what was his grade?

Zheng: Xu Xiang's academic performance is average. I remember that he did well in math. Our traditional idea is that we want him to study hard and find a good job.

China Business News: Did Xu Xiang drop out of school and go to the stock market? Did his family support him at that time?

Zheng: At that time, the business atmosphere in Ningbo was very strong. In those years, Xu Xiang read many biographies of business leaders, newspapers and magazines, and also collected a lot at home. The family history of these business wizards touched him greatly, and he was bent on making a fortune.

I remember that every day the newspaper said that Shanghai was mainly buying and selling original shares. Xu Xiang probably saw that he could make money from newspapers and started to make subscription cards.

Later, it turned into stock trading. My husband and wife disagree. At that time, we did not know what stock trading was. We think it is a heresy to make money through stock trading. We are the sons of ordinary workers' families, and we still work honestly to make money, so our family certainly didn't support him at first.

China Business News: Then why did you support him later?

Xu Bailiang: He is too noisy to help. Xu Xiang's mother said, either let him try, but it was agreed that he would try, and if he lost money, he would take it back and study hard in the future.

My wife is in charge of all the money in our family. My wife opened an account and took 30,000 yuan from the credit union to Ningbo Securities next to Ningbo Cinema to open an account in her own name, so all the money in Xu Xiang was in my wife's name.

China Business News: What was Xu Xiang like in the first few years?

Xu Bailiang: Generally speaking, we were lucky a few years ago. Later, I made money, took out part of it and bought a house in Ningbo, which cost about several hundred thousand yuan.

We think we have a house, at least guaranteed. After a while, Xu Xiang's mother also borrowed some money from relatives and friends, all of which paid interest. The borrowed money was used for stock trading in Xu Xiang, and all of them were recorded. So I have always said that Xu Xiang started his business with our family's money, and these relatives and friends all know it.

China Business News: How did you get here after Xu Xiang's accident?

Xu Bailiang: We live in Ningbo and we are worried. Now that we're all here, we haven't been in good health these years.

Because all our bank cards and funds have been frozen, we have no income. Many friends in Xu Xiang have taken care of us, and others have been taking care of us in recent years.

China Business News: Have you ever been to Qingdao to see Xu Xiang?

Xu Bailiang: We haven't been there. We are both weak. We can't afford to fly or take the train. And we are afraid that we will be too excited to go to Qingdao. Our relatives and friends have been advising us not to go to Qingdao.

Actually, I really want to go to Qingdao. First, I want to see Xu Xiang. Secondly, I would like to ask the Qingdao court, since all our assets have been taken away, why not reduce Xu Xiang's sentence?

China Business News: We see that most of the equity and cash assets involved in Xu Xiang are in the names of your husband and wife. Are these assets your husband and wife's or Xu Xiang's?

Xu Bailiang: I think the money belongs to my husband and wife, and Xu Xiang earned it. That's definitely no problem. My husband and wife paid the money, which is also an unchangeable fact. We gave the principal to Xu Xiang and later lent it to Xu Xiang for stock trading. We also took risks. Xu Xiang made the later money with our money, and the assets are in our name. I think this is natural.

China Business News: How many of Xu Xiang's assets involved in the case do you think belong to your husband and wife?

Xu Bailiang: I think all the assets in our name belong to our husband and wife. Just because we are Xu Xiang's only son, Xu Xiang and our husband and wife don't have separate money, then the money in our name is his money.

If Xu Xiang has brothers and sisters, then other children can share the money in our name, so whether to give it or not? I think this is also reasonable. I just want to say that facts are always facts by giving this example. If Xu Xiang has brothers and sisters, can other children agree if the court seals up my assets like this now?

China Business News: Did you apply to Qingdao Intermediate People's Court for screening and returning assets?

Xu Bailiang: When Xu Xiang had an accident, we were also confused. Later, through the explanation of lawyers and friends, we gradually understood. Many lawyers and friends told us that it was wrong to freeze all our assets, especially after the verdict. Since the judgment requires screening, I think we also hope to execute the judgment, and our legitimate rights and interests must be protected. Of course, we also applied to Qingdao Intermediate People's Court and wrote a letter, demanding that the assets be unfrozen as soon as possible and returned to us immediately.

China Business News: What do you think is the legal assets of your husband and wife?

Xu Bailiang: I think the assets under our name belong to both of us. These include the equity and other assets of listed companies and must be returned to us. Of course, the court can screen them, but after these years, the screening must end and we must tell us a result.

China Business News: We know that Xu Xiang's wife proposed divorce and asset screening, but she also proposed property. What do you think of this?

Zheng: Ying Ying has her ideas, and our husband and wife also have our opinions. I don't think there is a contradiction. I remember it was mentioned in media reports that Ying Ying of Qingdao Intermediate People's Court said that part of the family assets belonged to their husband and wife and part to Xu Xiang's parents. I think since the court said so, it should be done according to law.

China Business News: What do you think of Xu Xiang's divorce from his wife?

Zheng: As our parents, we certainly don't want our children to get divorced. We also want our grandchildren to have a complete family. This is not only the idea of our husband and wife, but also the hope of our relatives and friends around us.

Unexpectedly, after Xu Xiang's accident, the court failed to identify the assets in time, which brought so much trouble to our family. This is indeed a fact. I hope that Qingdao Intermediate People's Court can return our assets to us as soon as possible, and that Qingdao Intermediate People's Court can enforce the law and do a good job in the aftermath of the Xu Xiang case.

China Business News: Do you have any objections when Xu Xiang was growing up?

Xu Bailiang: I have always been firmly opposed to Xu Xiang going to Shanghai and Peking. Because we two old people are not used to leaving Ningbo, Xu Xiang is a dutiful son and has been living with us in Shanghai for many years. I usually like playing cards. I can't find a partner in Shanghai. All my card friends are in Ningbo, so it's uncomfortable to stay. I sometimes go back and forth from Ningbo to Shanghai. After Xu Xiang's accident, we went back to Ningbo to live.

China Business News: When will it come out? It is said that he came out, is it true?

Xu Bailiang: According to the judgment, it was delivered on July 9, 2002/kloc-0. What is said outside must be wrong. So far, Xu Xiang has not commuted his sentence. I don't think this matter is right, and I have also filed it with the court this time.

China Business News: Didn't Xu Xiang reduce his sentence? Why don't you reduce your sentence?

Xu Bailiang: I can't figure out why I can't reduce my sentence. Last year, I went to ask my lawyer, and the lawyer told me that it might be because Xu Xiang didn't pay enough fines, which affected the commutation. I think this thing is wrong. Why? Because all the assets of our family have been frozen and sealed up, and Xu Xiang is still serving his sentence, so he has no money to pay the fine. Because you took all the money and equity, we didn't deliberately hide a penny.

So I think it is wrong and unreasonable for the court not to reduce Xu Xiang's sentence. Xu Xiang coming out early is also good for the country. I believe that Xu Xiang has the ability to make money by disposing of assets, and can also pay the fine as soon as possible.

China Business News: We know that you must have a lot to say to the public these years, but you have been very silent all these years. Why did you write to Qingdao Intermediate People's Court this year?

Xu Bailiang: Xu Xiang is my son. He pleaded guilty to the first-instance judgment. Although my husband and wife have ideas, Xu Xiang is our son. What can we say?

My husband and wife have been in poor health in recent years, all out of anger. I have tinnitus all the year round and just had an operation this year. My wife has a bad heart and has been hospitalized several times. Some people say that you and your wife can go to Qingdao Intermediate People's Court to find a judge. Actually, we also want to go, but our friends in Xuxiang advised us not to go. They were afraid that we would collapse without saying a few words in Qingdao Intermediate People's Court.

The court froze all our money, and our life now depends on our friends in Xu Xiang. Where can there be such law enforcement? Have no humanity at all? It has been more than four years since the verdict, the assets have not been screened out, and the case has not entered the execution stage. I think this is deliberately embarrassing us.

I've been thinking about Xu Xiang's confession and punishment. They took so much money from our family, so Xu Xiang's commutation must be approved. I must be angry that there is no commutation now. Even our money has been confiscated, and people cannot reduce their sentences according to law. This is also deliberately embarrassing us.