Xi Jinping's Sister Qi Qiaoqiao Monopolizes Venezuela and Iran Low-Price Oil, Nets Nearly $60B Annually

(Jennifer’s note: Two days ago, I reposted a post by Canadian writer Sheng Xue exposing claims that Qi Qiaoqiao, the sister of Xi Jinping, netted 400 billion yuan ($57.60 billion) a year by monopolizing low-priced oil imports from Venezuela and Iran, and I summarized eight key points from her post.

After the post was published, Sheng Xue was urgently instructed to delete it. After she did so, since I could not clearly understand what had happened and was concerned that the content might be inaccurate, I also hurriedly deleted my own summary and repost.

Sheng Xue’s Statement on the Urgent Deletion of Her Post: “I just received an urgent phone call asking me to delete this post. I’m sorry—at this point, I still don’t know the specific situation.”

Today, I used publicly available figures to verify the possibility of earning 400 billion yuan a year (the calculations are shown here), and found that it is possible—not an utterly implausible fantasy.

In addition, judging from the posts Sheng Xue published after deleting the original one, she appears to have been subjected to serious threats. She spoke about death and about the increasing threats she has received, saying she is “afraid there may be no way to escape.”

In a post Sheng Xue published after deleting the original one, she mentioned that if she were to die in front of a friend of hers, she asked that she sing the theme song from the film The Godfather, ‘Speak Softly Love,’ at her funeral.

For these two reasons, I have decided to repost both the post I deleted and Sheng Xue’s original post. While the claims in the post cannot be verified at present, they are also difficult to conclusively falsify. I believe it should at least be made public so that people can judge for themselves, and so that a record is left in history—there may one day be a chance to verify or disprove it.

If Sheng Xue’s personal safety were truly to be compromised, then at the very least, people would know why it happened.)

In a post Sheng Xue published after deleting the original one, she said that ‘the threats and intimidation are increasing,’ and reposted a message from two years ago. At that time, someone asked her, “Aren’t you afraid Xi Jinping might send someone to kill you?” She replied, “Even if I’m afraid, I can’t escape it—so I’m not afraid.”

👇 Below is my post from January 31 that I deleted

U.S. Secretary of State Rubio recently revealed that Venezuela's oil is handed over to China at a huge – about $20 a barrel – discount to offset debt. And according to a former CCP official, this low-price oil is monopolized by Xi Jinping's sister Qi Qiaoqiao, who resells it at a high price to Sinopec, netting $57.54 billion annually from this item alone. Qi Qiaoqiao also monopolizes the concrete business in Shenzhen and Guangzhou, and has already taken Ping An Group into her pocket. She owns multiple companies through agents, with net assets as high as $2.88 trillion.

The following are the key points of the information revealed by this official.

👉I. Xi Jinping's sister Qi Qiaoqiao monopolizes China's oil business, buying cheap oil from Venezuela, then selling to Sinopec at much higher prices, earning 400 billion RMB ($57.54 billion) annually.

👉II. Personnel within the Chinese system estimate that Qi Qiaoqiao's assets now reach 20 trillion RMB ($2.88 trillion).

👉III. The chairman of Shenzhen's “Kingkey Banner” (京基百纳) company, Chen Hua (陈华) , after defrauding 20 billion RMB ($2.88 billion) from Shenzhen Agricultural Bank and fleeing, the bank reported the case and was about to arrest him, he bribed Qi Qiaoqiao 2 billion ($288 million), and settled the matter. This happened in 2010 or 2011.

👉IV. Qi Qiaoqiao also operates concrete, monopolizing the concrete business in Shenzhen and Guangzhou, at peak periods earning 130 billion ($18.7 billion) annually. She has 170 companies in Shenzhen.

👉V. Xi Jinping and Peng Liyuan's largest asset is Hengli Group （恒力集团）; its chairman is called Chen Jianhua (陈建华). Now the sales under his name are approaching 400 billion ($57.54 billion) (Jennifer’s note: Official reports from China state that Hengli Group’s revenue in 2025 was 871.5 billion yuan, so this official’s figure was lower—or he may have been referring to an earlier number.).

👉VI. Qi Qiaoqiao has seven investment companies and trade companies under her name. The head of the investment companies is called Long Jie(龙杰), from Hunan, 59 years old this year. Qi Qiaoqiao does oil trade through Long Jie, purchasing cheap oil from overseas, like Venezuela and Iran. China's oil imports require quotas, so Qi Qiaoqiao achieves a monopoly through quotas. Only Qi Qiaoqiao has the power to import oil at low prices.

👉VII. Ping An Group's highest revenue period was over 1 trillion ($143.85 billion) assets annually, previously belonging to Ye Jianying's family, later targeted by Qi Qiaoqiao and snatched by her. Ping An Group's Ma Mingzhe (马明哲) now serves Qi Qiaoqiao.

👉VIII. Qi Qiaoqiao does not personally appear in dealings, all realized through agents.

Therefore, Secretary of State Rubio reveals an extremely cruel reality: the huge premium dividends parasitic in the gaps of international sanctions have never flowed to improve Venezuela's humanitarian crisis, nor benefited the Chinese people who have long endured high oil prices. 

On the contrary, this money continuously slips into the private pockets of CCP elites through opaque intermediate links. 

This "energy arbitrage" spanning over a decade is essentially a systematic wealth plunder involving trillions of assets across borders.

********

The above key points were revealed by this official to Canadian writer Sheng Xue today. 

*******

The following is the full English translation of Sheng Xue’s post: 

Today, the account of the U.S. Mission to China (@USA_China_Talk) posted a message saying:

"Secretary Rubio: This is the oil of the people of Venezuela, and it was being given to the Chinese as barter at a $20 discount per barrel in some cases."

The following is the text organized from the dialogue record between my friend X, who provided the information, and me(SX).

*****

X: Dear Xue, did you see it? The U.S. Secretary of State publicly said that China gets oil from Venezuela at a $20 discount, as I told you before.

SX: Wait a moment, about Qi Qiaoqiao monopolizing oil, please tell me in detail again, last time you said it, I didn't note it down. I will post it in a moment.

X: I tell you, in recent years, she can't buy cheap oil from Russia anymore; she buys cheap oil from Venezuela and Iran. Qi Qiaoqiao earns this money. Didn't I tell you the other day, she just lies there and earns 400 billion annually? She earns 400 billion just from this oil annually.

SX: Oh, 400 billion RMB.

X: Think about how much oil China uses annually, and related products. You know? You see, she earns much more than Sinopec and PetroChina. Why do Sinopec and PetroChina say they don't make money, lose money?

SX: Um, I remember Sinopec has mentioned losses multiple times in financial reports or public statements.

X: How could it not lose money? First, it has to feed so many people; second, pay so much tax; third, also give so many gifts; plus all sorts of other places where money is needed.

SX: Today, taking advantage of Rubio's statement, I can mention this matter.

X: So I told you before.....I tell you, yesterday others told me, according to their estimation, Qi Qiaoqiao has an estimated 20 trillion RMB on hand.

SX: 20 trillion? That's almost a country's GDP, right?

X: Yes.

SX: As far as you know, these specific matters, Xi Jinping knows them, right?

X: One hundred percent, he knows. I tell you one thing, you can quote it, I guarantee they won't make a sound. I tell you, this is the most core and realistic thing. Shenzhen has a “Kingkey Banner”, the real estate "Kingkey Banner”'s Chen Hua. He defrauded 20 billion in loans from Shenzhen Agricultural Bank. After defrauding, the bank reported the case and was to arrest him. He ran to Hong Kong. Finally, he gave Qi Qiaoqiao 2 billion and settled it. This person now starts doing business again. Xi Jinping initially disagreed, but finally Qi Qiaoqiao and his mom had the say.

SX: Which year was this?

X: It should have been 2010 or 2011. China has a TV drama called In the Name of the People (人民的名义). What Zhao Ruilong talks about is exactly this Chen Hua. In it, there is the plot where he runs to Hong Kong. The Four Seasons Hotel in Hong Kong at that time was called the “North-Watching Building” (望北楼)—it was a gathering place for mainland corrupt officials and rich tycoons to temporarily hide, find connections, and get people fished out. Chen Hua stayed in Hong Kong for seven months, and in the end, it was smoothed over, and he came back.

SX: I didn't pay attention to this person before.

X: Chen Hua was born in 1966, from Wuchuan, Zhanjiang, Guangdong. Some say in the 80s he went to Shenzhen with 20 yuan to work, later became a contractor, founded Kingkey Real Estate, and later Kingkey Group.

SX: So Xi Jinping himself is very clear about this situation; his family is the most corrupt. His so-called anti-corruption, swatting flies and tigers, are all for show, just purging dissidents.

X: Yes. Because Qi Qiaoqiao has another company that is the most profitable, I tell you.

SX: Um.

X: Besides oil, she has concrete. The entire Guangdong region's concrete, Shenzhen and Guangzhou's concrete she monopolizes. At peak periods, she can earn 130 billion annually.

SX: Wow.

X: Don't underestimate, in those years of crazy real estate investment! She has 170 companies in Shenzhen.

SX: So many companies, she can't even remember the names.

X: Not managed by her, managed by another person. A man from Zhanjiang, Maoming, and a woman from Hunan, the couple.

SX: Oh, she can find such people in society.

X: I told you—We ate together before. That day, one person at the table said, “Today, the big boss of 400 billion is toasting everyone.” He toasted! He was very low-key. That person said he was someone around Qi Qiaoqiao.

SX: So Qi Qiaoqiao is indeed the Xi family's chief steward, financial chief.

X: What I just told you isn't it shocking? I also tell you, Peng Liyuan and Xi Jinping's largest asset is that... note it down, it's that Hengli Group (恒力集团).

SX: Hengli Group.

X: The chairman is also surnamed Chen, also called Chen Hua (陈华) (Jennifer's note: Publicly available information shows that the chairman of Hengli Group is named Chen Jianhua, not Chen Hua. The information provided by X in this regard may be incorrect).

SX: Then this is not the Chen Hua mentioned earlier.

X: Not the same person. Now the sales under his name are approaching 400 billion. Shandong's Hengli Petrochemical, you can't imagine how it makes money; he entirely does business with Russia.

SX: Step by step, today, first talk about Qi Qiaoqiao monopolizing oil.

X: OK.

SX: You told me about the oil matter at least two or three weeks ago.

X: Three or four weeks. When I said, Americans probably hadn't grasped it yet, they hadn't said it. So when you expose these things, many people hate you, both sides hate you, the CCP hates you, and some anti-CCP figures also hate you. First, you told the truth; second, you broke their information chain.

SX: Anyway, I don't use these things to make money from self-media or anything, I won't cater to any trends, public opinion, or popular will.

X: Yes, yes, don't be afraid. Let's continue talking about the oil matter. I want to clarify this oil matter. I tell you, note it down: she has seven investment companies, trade companies.

SX: Qi Qiaoqiao, Xi Jinping's sister.

X: Yes. The head of this investment company is called Long Jie, from Hunan. Long as in dragon flying in the sky, Jie as in outstanding. 59 years old this year.

SX: What are the approximate names of these seven trade companies?

X: This I have to check. After checking, I can tell you the specific names.

SX: She does oil trade through Long Jie, purchasing cheap oil from overseas, like Venezuela and Iran. What is the specific operation path?

X: Her trade companies can get crude oil quotas. In China's system, all oil imports have quotas. After they get quotas, buy low-priced oil from overseas, like Venezuela, Iran, and previously also Russia.

SX: That is to say, Qi Qiaoqiao, they don’t care which country the oil comes from, as long as it enters China, it must go through her first?

X: Not go through her, it's she who has the power to buy. She gets the quota, her trade companies buy back, then sell to PetroChina, Sinopec, sell to PetroChina or Sinopec's refineries. She sells to them at an international benchmark price, sometimes even higher; you see, now Brent crude is $60 to $75 per barrel.

SX: I don't know what the current Chinese gas price is, about how much?

X: Now, 92 gasoline is about 6.7 yuan - 7.0 yuan per liter, 95 gasoline is about 7.1 yuan - 7.5 yuan per liter. A few years ago, 95, 92 gasoline was about 8.5 to 9 yuan per liter.

SX: Everyone thinks it's the Chinese government buying cheap oil and selling high, but actually, it's Qi Qiaoqiao and her people taking cheap oil for profit.

X: Right, this is the key. The so-called “China” is actually a group of people in complete control. You know, Ping An Group at its peak was more than 1 trillion. It belonged to the Ye (Jianying) family. Now the Ye family has already lost power, and Ping An Group has also been brought under Qi Qiaoqiao’s name. The Ye family in Guangdong now has no power. When Ye Xuanning died, I said the Ye family was finished.

SX: Um, previously, Guangdong was the Ye family's world.

X: Ping An Group’s 3 trillion—Qi Qiaoqiao took a fancy to it. Think about it—this is why Wang Qishan and Meng Jianzhu, at that time, whether in HNA or Ping An—those used to be the two of them. Now, Ping An’s Ma Mingzhe is also working for Qi Qiaoqiao.

SX: Ma Mingzhe is working for Qi Qiaoqiao?

X: Yes, now he is working for her. Ma Mingzhe is a real slick one! He doesn’t care who it is—whoever lets him keep sitting in that position, he’ll work for. Before he worked for Wang Qishan.

SX: Before it was Wang Qishan and Meng Jianzhu, now it’s Qi Qiaoqiao.

X: So I tell you, why she is the financial chief. And she doesn't directly appear, all through these so-called "agents".

SX: Agents.

X: Yes. That Zhanjiang man. He is in Shenzhen, doing real estate. I still have our photos. Why, at this key moment, do you see Ma Mingzhe, this Ping An, now basically become Qi Qiaoqiao's private property?

SX: Private property.

X: Yes, because Ping An, this kind of company, is a mixed ownership. It doesn't have an absolute controlling shareholder. This Ma Mingzhe, operating in it for so many years, knows how to play capital operations. His capital operations are too powerful. Now he is helping Qi Qiaoqiao move all these assets under Qi Qiaoqiao's name.

SX: How to move over?

X: Too many ways! For example, private placements, asset restructuring. So you see, this is why Ma Mingzhe is still in position.

SX: He hasn't retired yet.

X: He hasn't retired. But now he is very low-key. He must be low-key! Now he knows his life is in Qi Qiaoqiao's hands. So you see, this is why in Guangdong now, basically no Ye family’s business anymore. So you see, after Xi came up, his first thing was to eradicate the Ye family. Because the Ye family's influence in Guangdong was too big, if he didn't eradicate the Ye family, he couldn't carry out work in Guangdong. So he used this way, bit by bit, to bring all the Ye family’s assets under his own family members’ names.

SX: Didn't Ye family people resist?

X: Resist? How to resist? Now the power is all in Xi's hands; he arrests whoever he wants. Ye family people now either hide abroad or linger on here.

*****

Sheng Xue’s Postscript:

With the U.S. substantially taking over Venezuela's oil sales and depositing the proceeds into escrow accounts audited by the U.S., this move is a direct geopolitical game between the U.S. and the CCP, and objectively cuts off an extremely important and secretive economic lifeline for the CCP elites, especially the Xi family.

Secretary Rubio's "anger" reveals an extremely cruel reality: this huge premium dividends parasitic in the gaps of international sanctions have never flowed to improve Venezuela's humanitarian crisis, nor benefited the Chinese people who have long endured high oil prices. 

On the contrary, this money continuously slips into the private pockets of CCP elites through opaque intermediate links. This "energy arbitrage" spanning over a decade is essentially a systematic wealth plunder involving trillions of assets across borders.

As early as a month ago, I obtained related inside information through specific channels, but due to a lack of sufficient evidence and supporting materials at the time, I kept it in my heart. 

Today, by virtue of Secretary Rubio's public testimony, I organize and share this information, and together with everyone witness the ongoing historic reckoning against the CCP, against Xi Jinping.

(End)

1/31/2026

Additional Reading: Is It Really Possible For The Xi Family / Qi Qiaoqiao To Net Nearly $60 Billion A Year From Oil?