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The Chinese authorities are investigating the son of Liu, a former and stable deputy for Xi Jinping, who negotiated a trade agreement with the first Trump administration, according to persons familiar with the investigation.

Seven people said to the investigation that Leo Tianran, who worked his father ChinaThe Economic Caesar, was under investigation. Two people said that the investigation was linked to the suspected financial corruption.

One of the many “princess” children from senior party officials, Leo founded an investment company called Skycus Capital in 2016 and worked as its opening president. Financial times Previously confirmed that Liu Son.

A former Liu Tianran’s colleague said he was “under investigation for a while” and “perhaps he lost his freedom”, which means that he may have been arrested. Another person said he was already detained. Two other people said it was investigated for at least six months.

One of the people who said that the investigation of the suspected corruption said that the Chinese authorities had first looked at Liu Tianran regarding a preliminary general offer of $ 37 billion from the ants group, which was scheduled to become the largest public subscription in the world until Beijing was prevented from moving forward.

During the investigation, the authorities found non -relevant cases corruptionAccording to the person who added that Xi, the Chinese president, a report on the claims was submitted.

This investigation comes at a time when Xi has registered the Chinese financing industry, including cutting wages for bankers and scrutinizing donations and many higher funds. Some investors have been interrogated from prominent Chinese projects, and even their detention, to collect donations, including Chen Datong, a higher semiconductor investor.

“If this is true, Liu’s case will be consistent with a new form of eleventh investigations authorized in recent years,” said Christopher Johnson, a former CIA analyst, who heads the China Strategies Group, a risk consultative company.

He added: “These investigations, which focus on the illegal gains by the partners of senior Chinese leaders, put their goals in a kind of land, not a man between a clean list and official detention.” “In general, these officials can avoid detention if they return their unlawful gains to the state, but the volume of alleged Liu errors may test the limits of this arrangement.”

Dennis Wilder, the former head of China’s analysis of the CIA, said that the investigation suggested that he had problems. Liu regularly met foreigners after his retirement in 2023, including with Treasury Secretary at that time Janet Yellen in April 2024. But his meetings were severely reduced during the past year.

One of the people who were aware that some of the people who were aware of an investigation into his son had assumed that his low person was associated with the investigation: “Liu was in a very narrow wheel.”

Wilder added that Liu seemed to have fallen with Shi, a childhood acquaintance.

“Looking at Liu, political problems and his lack of reaching Xi Jinping, he no longer has political influence to protect his son,” said Wilder, a professor at Georgetown University and a former White House official at the White House.

FT was unable to reach Liu Tianran to comment, but a person close to him rejected the allegations that FT set as “not based on facts and completely incorrect.” Liu and Skycus did not respond to a request for comment.

The records of companies in FT showed that Leo Tianran was officially stepped as president at Skycus in April 2017, six months before his father’s promotion to the 25 -member Chinese Communist Party.

He was later appointed Deputy Prime Minister and granted the responsibility to supervise the financial sector. Chinese government rules give children of senior cadres from the management companies in the sectors organized by a parent.

In 2021, people close to Skycus Ft operations told that Leo Tianran – who also uses the English name Andy – continued working on the company’s deals after retreating as a president and transferring his shares.

Business records show that Skycus Funds raised money from many government groups, including the country’s largest policy bank in China, and the Telecom China Mobile and Industrial Bank Co.

In addition to taking money from technology giants such as Tencent and JD.com, Skycus has also invested in their logical business lines.

Liu Tianran began his career as a journalist in the Observer Economic Newspaper, a Chinese commercial newspaper. He later worked at CCB International, a large government bank arm, before joining a fund supported by the Shanghai government. In 2016, he founded Skycus – or Tianyi Ziteng Asset Management in Chinese.