Mao Yuping
Mao Yuping (born May 4, 1962)[1] is a socialite from Hong Kong and a native of Huangpu, Shanghai. She is the former General Manager of Shanghai Real Estate and Chairwoman of Shanghai Commercial Holdings Limited. Mao was the partner of former Shanghai tycoon Zhou Zhengyi. Though they never formally registered for marriage, they were in a de facto marriage.[2]
Biography
Mao was born into a poor family in Shanghai and completed junior high school.
In June 1986, Mao gave birth to a son, Yu Juncai, with her husband Yu Xionghua, a seafarer, and later moved to Hong Kong. (Mao claimed she got married and had the child in August of the same year after arriving in Hong Kong.) In Hong Kong, Mao built a vast network of connections and rose to prominence, allegedly supported by two Southeast Asian tycoons who acted as her godfathers.[3]
There are different accounts of her relationship with Zhou Zhengyi. One version claims they co-ran a small goods business in Shanghai in 1980. Mao later moved to Hong Kong for work, while Zhou sold goods in Japan under the guise of studying abroad. They reunited after several years. Another version claims they met in the late 1980s. A third version says Mao returned to Shanghai in 1992 to run a restaurant and met Zhou in 1993, divorcing her husband thereafter.
In 1994, Mao and Zhou opened a restaurant called "Ah Mao Soup" on Huanghe Road, named after Mao. It became popular and was dubbed the PR canteen for Shanghai's banking circle. From the 1990s to early 2000s, the couple profited immensely from stock speculation and real estate investments. During this time, Mao was rumored to have close ties with Liu Jinbao, an executive at Bank of China, through whom she allegedly secured large loans to fund Ah Mao Soup and the Nongkai Group. (Mao denied knowing Liu Jinbao.)
In 1997, Mao returned to Hong Kong.
In 2001, introduced by socialite Zhao Jinqing, Mao entered Hong Kong’s elite social circle and befriended notable figures like Winifred Wing Man Wai, niece of CITIC Pacific Chairman Larry Yung, and Pansy Ho.
Between July 2002 and April 2003, Mao conspired with others to use 12 individuals to open 43 securities accounts to manipulate the trading volume of Shanghai Real Estate shares, involving a sum of HKD 2.06 billion. On June 2, 2003, Mao was arrested by the Independent Commission Against Corruption (ICAC) at the request of mainland authorities. On December 7, 2005, she was convicted in the Wanchai District Court for conspiracy to create a false market and perverting the course of justice. On January 16, 2006, thanks to pleas from over 200 public figures including Cheng Yu-tung, Jackie Chan, and Ho Chiu-kwok, her sentence was reduced from four years to three and a half. On November 14, 2006, the Court of Appeal overturned the false market conviction, but upheld the other two charges, and the sentence remained unchanged.
In June 2008, Mao was released on parole under the “Pre-release Employment Scheme” and worked in clerical duties at a beauty company owned by her friend Cheng Ming Ming. In November, after completing her sentence, her friend Albert Yeung hosted a celebratory party for her with stars from Emperor Entertainment in attendance. Since then, Mao has kept a low profile and rarely appeared in public.
Anecdotes
Slapping Christy Chung
In 2002, actress Christy Chung moved into a luxury Mid-levels apartment with a monthly rent of HKD 120,000, rumored to be funded by Zhou Zhengyi. At the time, both Zhou and Chung claimed they were simply fellow Shanghainese. On October 5, while Zhou and Chung were having tea at an Italian restaurant in Causeway Bay’s Lee Gardens, Mao appeared and slapped Christy Chung in public, shouting, “How dare you mess with my husband!”
Mao later publicly stated, “I am the only Mrs. Zhou.” Zhou publicly defended Chung. Years later, Christy Chung admitted to having an affair with Zhou, claiming she was misled by him and unaware that he was in a relationship.
Hermès Bag with Chinese Flag
On October 20, 2012, Mao posted a picture on Weibo of a customized Hermès Birkin bag featuring the Chinese national flag and wrote: “Mr. Pascale Mussard, artistic director of Hermès, is so thoughtful. I received this Chinese-style Christmas gift early. The Five-star Red Flag waves in my heart!” Netizens criticized her, calling her a “nouveau riche” and “uncultured.” Mussard is in fact a woman, and Mao later clarified she misread the business card.