LNP senate candidate denies dealings with China business empire

An LNP senate candidate listed as a shareholder in a multimillion-dollar business empire in China claims he has had no dealings with those companies in 20 years, despite them bearing his name.

Peter Zhuang is an LNP senate candidate.

An LNP senate candidate listed as a shareholder in a multimillion-dollar business empire in China claims he has had no dealings with those companies in 20 years, despite them bearing his name.

LNP senate candidate Peter Zhuang also confirmed he had not declared the Chinese business holdings to the party, as they were all run and managed by his brother-in-law. This includes a company set up in his name in March, just weeks after he had visited China in his capacity as president of Queensland Shandong Association, a group which seeks to deepen business ties between the two cities.

Mr Zhuang’s complex web of foreign dealings come in an election where the Coalition’s screening of candidates across multiple states have come under scrutiny.

But the LNP has stood by his eligibility saying the businesses “established by Mr Zhuang’s relatives in China have no bearing on his eligibility”.

A deep-dive into Mr Zhuang’s business dealings in China revealed, through records held in that country, a complex network worth at least $A 100m, but claims he doesn’t have any involvement in the business. In the centre is Shandong Dashen Group Construction Co Ltd, of which Mr Zhuang – under his Chinese name Yongxin Zhuang – holds an 88 per cent stake, according too fficial documents. His brother-in-law Yong Zhou holds 12 per cent stake.

The company and its subsidiaries hold stakes in about six others across real estate, building material wholesale, software, and health.

Mr Zhuang, interviewed in English and Mandarin, confirmed those companies bore his name, but said he did not manage nor administer them.

“My father-in-law, he used my name in China, but he’s passed away … just used my name but it’s vacant,” he said.

His father-in-law’s shares have since been transferred to his brother-in-law. Mr Zhuang said he no longer administered those businesses after moving to Queensland in 2005 – even though they were still registered to his name.

Mr Zhuang was candid about the odds of being elected, saying he was “not a chance”.

Mr Zhuang runs numerous businesses in Queensland, including property investment outfit Bristar, but said there was no crossover with companies in China registered in his name. He last visited China in February to further business ties of Queensland’s Chinese diaspora. Mr Zhuang said he was ­peripherally aware his brother-in-law had set up another company in March bearing his name, but this was not linked to the February meeting.

The trip chronicled in local press, included a meeting with Li Xingyu, of the All-China Federation of Returned Overseas Chinese – and listed Chinese Communist Party member.

Mr Zhuang said he had never been a member of the CCP and his companies had never received Chinese government funding.

An LNP spokeswoman said Mr Zhuang, an Australian ­citizen with no other citizenships, was entirely eligible to be elected to the senate.