China is awash with confusion over the true ownership of the hazardous goods warehouse that exploded in Tianjin last week, even as the Communist party seeks to assure the public there will be no cover-up.
Identifying owners of businesses in China has been complicated since exposés of the family wealth of the Communist party’s most powerful leaders led to greater restrictions on corporate ownership registries.
The task is further complicated by the practice of individuals legally holding shares on behalf of other, unnamed but more powerful, people, often on the basis of a verbal agreement.
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