Chinese ‘spy’ at centre of Prince Andrew scandal launched one among Britain’s main businessmen to Xi Jinping’s shut advisor

The alleged ‘spy’ at the centre of the Prince Andrew scandal introduced one of Britain’s leading businessmen to a close advisor of President Xi Jinping, the Mail can reveal.

Yang Tengbo accompanied Sir John Peace, the former chairman of Standard Chartered bank and British fashion house Burberry, during a visit to China in 2018, where they were photographed meeting Shen Yiqin.

There is no suggestion that Sir John was involved in anything untoward when the two met.

At the time, Ms Shen was the first female governor of the Guizhou region and Sir John was on a ‘trade mission’ looking to drum up business with the area as part of his role as chair of the Midlands Engine, set up in 2015 by the Conservative government before its remit was largely usurped by elected mayors.

Ms Shen has since risen to become a state councillor – the equivalent of a cabinet position – where she is regarded as one of the most senior female politicians in President Xi’s government.

One image obtained by the Mail shows Sir John, 75, sitting across a grand table from Ms Shen as photographers look on, with Mr Yang immediately to his right-hand side. Mr Yang’s name badge appears to display the Anglicised form of his name: Chris Yang.

Sir John stood down from his role at Standard Chartered in 2016, however the bank has continued to campaign for closer ties with China and is understood to have raised concerns that designating the country a national security threat would impact commercial dealings.

Yang Tengbo (centre) accompanied Sir John Peace (left) during a visit to China in 2018, where they were photographed meeting Shen Yiqin (right), a close advisor of President Xi Jinping

Yang Tengbo (centre) sits next to Sir John Peace (right) and opposite Shen Yiqin (left)  

Lady Barbara Judge (second left), Sir John Peace (third left) and Yang Tengbo (far right)

The bank, which works extensively in Asia, has reportedly lobbied the government not to include China on an ‘enhanced tier’ under the planned ‘foreign influence registration scheme [FIRS]’, which is designed to increase transparency over dealings with countries which could pose a threat to the UK.

A spokesman for Standard Chartered declined to comment yesterday.

On Monday, Mr Yang agreed to the lifting of a court order banning his identification. The 50-year-old businessman, described as a ‘close confidante’ of the Duke of York, is suspected by the security services of being associated with the United Front Work Department [UFWD] – the secretive arm of the Chinese government that organises Beijing’s cultural influences overseas.

He was first stopped from entering the UK under counter-terror laws in 2021 and his devices were seized, with documents retrieved later revealing his links to Andrew.

He was taken off a flight to London in 2023, with the then-home secretary Suella Braverman upholding the decision to cancel his residency rights in March of that year because it would be ‘conducive to the public good.’

Alleged Chinese spy Yang Tengbo, who forged links with the Duke of York

Yang Tengbo (far right) with Andrew at an event to encourage trade between China and Britain 

Mr Yang has said allegations he is a spy are ‘ill-founded’ and ‘entirely untrue’, adding: ‘The political climate has changed, and unfortunately, I have fallen victim to this.

‘When relations are good, and Chinese investment is sought, I am welcome in the UK. When relations sour, an anti-China stance is taken, and I am excluded.’

In 2019, Sir John and Mr Yang were again photographed together as they announced the World Chinese Entrepreneurs Convention at the ExCel centre in London. Sir John was described as chair of the convention’s steering committee while Mr Yang was executive chairman of the convention. Again, there is no suggestion of anything untoward.

Sir John is also the current chancellor of Nottingham Trent University and a former chairman of credit checking service Experian. He was knighted in 2011 for services to business.

On Monday, shadow home secretary Chris Philp warned Chinese agents were ‘systematically infiltrating’ governments, businesses and universities.’

Yang Tengbo met senior Tories including Theresa May, seen here with her husband, Philip 

Yang Tengbo alongside former Prime Minister Lord David Cameron and his wife, Samantha 

Following the December 2018 Midlands Engine visit to China, Sir John said it had been ‘highly successful’ and had ‘opened a lot of doors.’ 

A press release said the businessman had been accompanied by Hampton Holdings, which is understood to refer to Mr Yang’s Hampton Group, a consultancy firm with extensive links to China.

Mr Yang was not named and did not feature in publicity photographs issued in the UK.

Yesterday, the Mail revealed how Mr Yang had also gone into business with the late Lady Barbara Judge, once described as ‘the most connected woman in Britain’.

New photographs show Mr Yang alongside Lady Judge, wearing traditional Chinese dress, and Sir John, during a visit to China. Another shows Mr Yang and Lady Judge standing outside the entrance to House of Fraser’s former flagship store on London’s Oxford Street.

Lady Judge, who died in 2020, was a former chair of both the UK Atomic Energy Authority and the Institute of Directors. With Mr Yang’s support, she set up a fashion and soft furnishings company, B&H Enterprise.

Sir John was contacted for comment.