Entries by Jon Sussman

Save Our Supplements! Letter to FDA Commissioner urges investigation of Chinese acquisition of GNC stake

GNC has recently concluded a $300 million investment agreement with Harbin Pharmaceutical Group Holding, which would see the Chinese company become the largest shareholder in the vitamin and supplement retailer.

UNITE HERE has sent a letter to FDA Commissioner Dr. Stephen Gottlieb urging an investigation of the deal. In China, Harbin has been cited or sanctioned by government agencies for problems with its drugs no fewer than 6 times since 2015, and three times in 2018 alone.

UNITE HERE: Report Calls on Chinese Authorities to Investigate Fantasia Holdings

UNITE HERE, the North American hotel workers’ union, has released a report calling on Chinese authorities to investigate real estate company Fantasia Holdings. The call comes in the context of an ongoing corruption investigation of Lai Xiaomin, former Chairman of China Huarong Asset Management. The report describes the interlocking relationship between Fantasia Holdings and HKBridge (formerly Topsearch International), and the latter’s multiple connections with Huarong and troubled metals company Ningxia Tianyuan Manganese Industry Group, which was reportedly integral to the conduct being investigated by the Chinese government.

NEW: UNITE HERE Letter to Spanish regulators urges caution over potential Kam Fung bid for pork processor Incarlopsa

UNITE HERE has sent a letter to Spanish regulators raising concerns about the reported interest by Kam Fung, a Chinese property developer, in acquiring Spanish meat processor Incarlopsa. The concerns center on Kam Fung’s relationship with troubled state-owned distressed asset manager China Huarong Asset Management, and the Chinese government’s encouragement of purchases of international agricultural assets.