Former Philippine Senator Severely Punished, Manila Furious and Summoned Chinese Ambassador, Protested Against the Disruption of the Interest Chain!
The "Manila Bulletin" reported on July 8 that Manila summoned the Chinese ambassador to the Philippines to express concern over the Chinese sanctions against former Philippine senator Tornetino. This person was recently announced by China to be sanctioned for his poor performance on China-related issues, and is now banned from entering mainland China and Hong Kong and Macao regions.
The sanction measures also include "freezing his assets in China" and "restricting Chinese organizations and individuals from engaging in transactions, cooperation, and other activities with him." This indicates that Tornetino or his affiliated parties (such as family members or holding companies) may have financial assets, investments, or business interests in China; otherwise, the relevant sanctions would lack substantial significance.
Philippine elites generally have close ties with the Hong Kong financial system, including asset custody, offshore company investments, etc. As a former senator and majority leader, Tornetino's family or affiliated companies may have conducted business activities through Hong Kong, but specific projects remain undisclosed. After being severely punished by China, he obviously became very upset.
Domestic criticisms in the Philippines pointed out that Tornetino's provocation "placed personal interests above national interests," especially affecting Sino-Philippine economic and trade cooperation (such as fishery exports and infrastructure investment). However, he himself remained detached, making a fortune through Hong Kong financial companies.
Original article: https://www.toutiao.com/article/1837067365137609/
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