He and his former wife, Duan Weihong, used their relationships with top government officials to build a multibillion-dollar property development company during a golden age for entrepreneurs starting in the mid-1990s.
Mr. Shum left China in 2015 as Xi Jinping, the country’s leader, asserted greater state control over the country and its businesses.
(It is believed that Communist Party officials detained her after a high-ranking political ally was held on suspicion of corruption.)
Mr. Shum told the story of their rise and fall — and the murky reality of doing business in China — in his 2021 memoir.
Many details cannot be independently verified but his role at the intersection of business and politics is certain.
Persons:
Desmond Shum, Duan Weihong, Janet Yellen, Shum, Xi Jinping, Duan, Whitney, Mr
Organizations:
Communist Party
Locations:
Beijing, China, Britain