Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!
Data: FactSet; Chart: Axios Visuals

On Friday, shares of Hong Kong Finance Investment Holding Group Ltd. plummeted, Bloomberg reported. The company is involved in real estate and natural resources.

Why it matters: Neil Bush, the brother of former President George W. Bush, sits on the company's board as deputy chairman. Neil Bush's ties to Chinese-owned companies have drawn public scrutiny and once landed a super PAC supporting his brother Jeb Bush in hot water.

  • Hong Kong Finance Investment stock fell by up to 90% on Friday, until the company requested that trading be suspended. Bloomberg reported that the drop came in advance of an announcement about “a very substantial disposal of the company.”

More intrigue: In August, the company chairman, Hui Chi Ming, was charged with physically assaulting a Hong Kong-based British man in March of this year. Hui was also charged with criminal damage for smashing the British man's cellphone.

The backdrop: Hong Kong Finance Investment Holding Group Ltd. is incorporated in Bermuda, and in April 2020 announced that it had acquired exclusive mining rights for sand mining in the Kikori Delta in Papua New Guinea.

Hui is a colorful figure. He often goes by "Dr. Hui," a reference to the doctoral degree he holds from the Russian Academy of Sciences.

  • Hui has served as the Honorary Consul of Madagascar in Hong Kong, and he's served as an adviser to the prime minister of Madagascar.
  • He is politically active in mainland China and has served for several years as a member of the Chinese People's Political Consultative Conference, one of two pseudo-representative bodies that meet annually in Beijing.
  • In 2009, Forbes included Hui on their annual "400 Richest Chinese" list, putting his net worth at $815 million.
  • He even has a planet named after him, according to his profile on the company website — the minor planet No. 5390, "Hui Chi Ming Planet."

In 2014, Hui was embroiled in a scandal in Madagascar, when the country’s National Environment Office said that MSPC, a different company owned by Hui, had caused serious environmental damage and had purchased oil land in violation of code (MSPC disputed the claims).

The Bush connection: As deputy chairman, Neil Bush is paid an annual stipend that has ranged from tens to hundreds of thousands of dollars. In 2019, he was paid approximately $77,000, according to the company's 2019 annual report posted on its website.

  • Hui and Bush did not respond to emailed requests for comment.

What to watch: Perhaps the announcement that Hong Kong Finance Investment Holding Group said it would soon release will shed some light on the stock woes.

Go deeper

Jan 6, 2021 - World

Hong Kong police arrest 50 pro-democracy leaders under security law

Hong Kong barrister and former politician Alvin Yeung is among those arrested in the latest crackdown. Photo: Anthony Kwan/Getty Images

A group of former lawmakers were among dozens of pro-democracy activists arrested on Wednesday under the national security law imposed by China, per opposition groups and local media.

Why it matters: Hong Kong had enjoyed a high degree of autonomy, but the passage of the sweeping security law by Chinese lawmakers last June has led to a major crackdown on the pro-democracy movement. It has escalated in recent weeks, with the arrests of activists including media tycoon Jimmy Lai and the imprisonment of other prominent figures like Joshua Wong and Agnes Chow.

Focus group: Former Trump voters say he should never hold office again

Illustration: Sarah Grillo/Axios

"Relief" is the top emotion some swing voters who used to support Donald Trump say they felt as they watched President Biden's swearing-in, followed by "hope."

Why it matters: For voters on the bubble between parties, this moment is less about excitement for Biden or liberal politics than exhaustion and disgust with Trump and a craving for national healing. Most said Trump should be prohibited from ever holding office again.

Updated 13 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Health: Most vulnerable Americans aren't getting enough vaccine information — Fauci says Trump administration's lack of facts on COVID "very likely" cost lives.
  2. Politics: Biden unveils "wartime" COVID strategyBiden's COVID-19 bubble.
  3. Vaccine: Florida requiring proof of residency to get vaccine — CDC extends interval between vaccine doses for exceptional cases.
  4. World: Hong Kong to put tens of thousands on lockdown as cases surge.
  5. Sports: 2021 Tokyo Olympics hang in the balance.
  6. 🎧 Podcast: Carbon Health's CEO on unsticking the vaccine bottleneck.