On May 6, the Chinese Communist Party (CCP) arrested 17 members of a China Black Societies (gang) operating in Wuhan, Hubei province, including the notorious boss Huang Dafa and Xiong Daxi. Both Huang and Xiong held Hong Kong identity cards (HKID). In 2018, Xiong purchased a standalone house on Repulse Bay Road for approximately HK$496 million ($63 million) before selling it to Huang for HK$450 million ($57 million) in April this year. However, Xiong was arrested the day after the registration documents were filed. Some commentators believe that this substantial transaction triggered concerns about capital flight from the mainland and was deemed a threat to national security by the CCP.
Huang, 61, and Xiong, 60, are reported to live in Wuhan but have their residence in Hong Kong. Huang purchased House 7 of 90 Repulse Bay Road from Xiong for HK$450 million in April. It was discovered that he paid a stamp duty of 4.25 percent on the property price, indicating that it was his first property purchase as a Hong Kong permanent resident.
