There are concerns that Chinese billionaire, Wang Jing's agreement to build the $50bn interoceanic canal through Nicaragua is at risk, after it emerged that China's stock market crisis wiped out nearly 85% of his fortune. ’s official news agency, Xinhua Until June, Wang was worth $10.2bn, but this has since slumped to $1.1bn, which may affect the ability of his company, HKND, to push ahead with the construction of the 178-mile canal in Nicaragua. However, officials at HKND so far say they are confident it will go ahead and the delay to the start of construction work is due to environmental concerns. The Panama Papers also reveal a number of other offshore companies linked to Mr Xi Jinping, including one called China International Trust & Investment Corporation (CITC), registered in Hong Kong on 1 January 2013.
There are concerns that Chinese billionaire, Wang Jing's agreement to build the $50bn interoceanic canal through Nicaragua is at risk, after it emerged that China's stock market crisis wiped out nearly 85% of his fortune. Until June, Wang was worth $10.2bn, but this has since slumped to $1.1bn, which may affect the ability of his company, HKND, to push ahead with the construction of the 178-mile canal in Nicaragua. However, officials at HKND so far say they are confident it will go ahead and the delay to the start of construction work is due to environmental concerns. The Panama Papers also reveal a number of other offshore companies linked to Mr Xi Jinping, including one called China International Trust & Investment Corporation (CITC), registered in Hong Kong on 1 January 2013.