FAMILY BUSINESS: Chiang Kai-shek’s wife Soong Mayling used the KMT’s one-party rule to accrue immense wealth for the Women’s League, the assets committee said
Date: Sep 24, 2018
By: Chen Yu-fu / Staff reporter
The National Women’s League’s assets have earned it more than NT$30 billion
(US$976.7 million) in interest income since the 1990s, the Cabinet’s Ill-gotten Party
Assets Settlement Committee said in a report published late on Wednesday.
The report is part of the committee’s investigation to determine whether the league’s assets were obtained through illegitimate means and whether they should be nationalized.
A public hearing is scheduled to be held on Oct. 4 to discuss the matter.
It followed the committee’s designation in February of the league, founded in 1950 and run for decades by Chiang Kai-shek’s (蔣介石) wife Soong Mayling (宋美齡) as an affiliate with the Chinese Nationalist Party (KMT).
Soong capitalized on the KMT’s one-party rule and helped the league accumulate assets comparable to the wealth of a nation by collecting donations from importers’ and exporters’ associations, and other organizations, the report said, citing evidence the committee has collected. [FULL STORY]