Chinese ‘spy': I risked my reputation by supporting Prince Andrew
An alleged Chinese spy said he took a 'significant risk' to his reputation by continuing to support Prince Andrew after his disastrous Newsnight interview, documents have revealed.
Yang Tengbo, who was banned from the UK on national security grounds, said he maintained 'loyalty and commitment' to the Duke despite the royal's general 'negative' perception in China.
Yang was forced to leave the country on national security grounds in March 2023 and unsuccessfully challenged the decision at the Special Immigration Appeals Commission last year.
UK authorities have alleged that he formed an 'unusual degree of trust' with the Duke and developed relationships with politicians to be 'leveraged' by China.
On Friday, a secrecy order preventing the release of some documents linked to the case was lifted in the public interest after an application by publications, including The Telegraph.
Among the newly published documents is a second witness statement from Yang, where he denied 'scheming to destabilise the UK' and said he was 'confused' as to why the British state believed he was a threat.
Yang appears to have targeted the Duke through his Pitch@Palace initiative, a Dragons' Den-style competition launched in 2014, and he was later appointed to lead its Chinese arm, Pitch@Palace China, when it was launched two years later.
In the 37-page statement, Yang said that Pitch@Palace China had been 'recognised as one of the top international entrepreneur and start-up platforms in the country' but that after the Duke's November 2019 interview with Emily Mailtis, 'everything changed'.
'Following that interview, all international partners of Pitch pulled out or distanced themselves from it,' he said. 'The Pitch Global team moved from their offices out of Buckingham Palace. But the intention was to maintain Pitch in some form.'
He said Amanda Thirsk, the Duke's private secretary and the director of the Pitch@Palace initiative, asked whether he would continue to support the project, 'especially given the success we had achieved in China', and that he decided to do so despite believing it posed a risk.
'At a significant risk for me and my business reputationally, I agreed to continue to support Amanda and Pitch,' he said. 'I admired and respected the Duke in how engaged and passionate he was about supporting Chinese entrepreneurs. I felt I had also invested a huge amount of time, effort, and money into Pitch China and did not want that investment to go to waste.'
The new documents included a witness statement from Dominic Hampshire, a senior adviser to Prince Andrew, that claimed the King held secret meetings with the Duke about his plans for a Chinese investment scheme run by Yang.
Mr Hampshire claimed that the King was aware of an investment fund in which Yang was directly involved.
Yang told the tribunal that he first met the Duke at a dinner in St James's Palace in 2014, having been introduced to Ms Thirsk by Sir Ron Dennis, the Formula 1 executive.
Earlier in the statement, Yang said on setting up Pitch in China, the initiative was 'unknown there, and the Duke's reputation was fairly negative and based on reporting taken from the British media'. He said he persuaded others to 'take a risk alongside me and invest in what was essentially a start-up'.
In his statement, Yang said that during his time working with the Duke, he had very little contact with him and could not have influenced the Duke.
'There would literally be no way I could possibly exert any unwanted influence on his team, or him. If anything, I was using my own networks and understanding of China to help with Pitch build[ing] a positive brand in China,' he said.
He said being a representative of the Chinese business community in the UK meant meeting members of the Chinese Communist Party was 'unavoidable' but 'this does not mean I am working for this organisation, for its interests, or on its behalf'.
'I am definitively not scheming to destabilise the UK or its institutions or prominent individuals, and I am not acting against the national interests of the UK. I am not a threat to the security of the UK, and I feel very insulted to be accused of this and without seeing any material evidence against me to support this.'
He later added: 'I am confused as to why the British state believes I am a threat to the public good on the grounds of national security.'
Yang said that concerns about the 48 Group, which promotes trade between the UK and China and of which he is a member, were 'paranoid and far-fetched'.
He said it was wrong to accuse him of spying and his 'prominent status as a successful Chinese entrepreneur in the UK' was 'nothing to do with me wanting to get access or exert influence in the UK '.
'I feel that the government completely misunderstands me and what I do. I don't deceive, I don't mislead, and I don't hide things to interfere with the interests of the UK.'
Yang also claimed that the Duke had wanted him to become involved with a golf tournament and told him to contact Mr Hampshire during a dinner at Buckingham Palace in October 2019.
'During that dinner, the Duke said I should contact Dominic who runs his golf tournament,' Yang wrote. 'He said there may be opportunities to work with him on golf like we had done with Amanda for Pitch. The Duke wrote Dominic's number down on a piece of paper and I then reached out to Dominic.'
Yang also suggested that the Duke wanted to keep a relationship with Chinese business in August 2021 because he 'needed money'
Yang said that when the new ambassador, Zheng Zeguang, came to the UK, Hampshire was 'involved in the preparation of the talking points' of a call. He said the 'purpose of the note was to keep the Duke engaged without promising anything in terms of financial benefit because the Duke needed money at the time, and saw the relationships with China through Pitch as one possible source of funding.'
Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


CNBC
30 minutes ago
- CNBC
CNBC's The China Connection newsletter: AI hits an already weak jobs market
China's eagerness to adopt artificial intelligence comes just as economic growth is slowing, putting millions of routine jobs at risk. "I'm planning to get rid of 360 [Security Technology's] entire marketing department. This way the company can save tens of millions a year," founder and chair Zhou Hongyi said in a Chinese-language video on Friday night, translated by CNBC. It's since been viewed more than 191,000 times on popular Chinese platform Weibo alone. Zhou, who has nearly 12 million followers on Weibo, said he's attempting to use the company's forthcoming generative AI tool to prepare a press conference for the product by himself in five days. The AI agent plus search tool is due for release on Wednesday. Whether or not it's just another sales ploy by Zhou, who goes by the moniker "Red Shirt Big Uncle Zhou Hongyi," the video captures an emerging reality: companies pressured to cut costs may increasingly replace jobs with AI. Worrying signs are piling up. Last week, U.S. financial giant Citi said it's cutting 3,500 tech jobs in China by October. U.S.-based Anthropic CEO Dario Amodei told Axios last month that AI could lead to unemployment rates of 10-20% over the next one to five years. In China, more companies are discussing AI-driven efficiencies, especially in marketing and coding. Food delivery giant Meituan told investors in late May that about 52% of new code was generated by AI, up from 27% disclosed in March. Big Chinese tech companies are pointedly asking for new young recruits to have AI skills, said Shu Weibing, partner and COO at HangHang AI. "If a student doesn't know how to use AI, then it will be very hard to get a job," Shu said in Mandarin, translated by CNBC. HangHang AI focuses on AI skills training. On June 6, it launched a "Global AI" platform to help entrepreneurs get initial funding for AI projects, even if they are still working a day job. So far, the platform has 70 investors participating and at least 50 projects on board, Shu said. He added that the goal is to invest in 1,000 projects over three years, with each one receiving 10,000 yuan from three backers, totaling 30,000 yuan to jump-start each project. Chinese authorities have encouraged efforts to embrace AI and robots, while increasing support for employment. The Ministry of Finance announced on Tuesday that it has allocated 66.74 billion yuan ($9.29 billion) for employment-related subsidies this year. On Monday, the Ministry of Industry and Information Technology and the Ministry of Civil Affairs announced a two-year pilot program to test the use of robots for senior citizen care. To be sure, AI isn't about to suddenly hit every single industry. But since the Covid-19 pandemic, a persistent story, seen on Chinese social media and in casual conversations, is one of job uncertainty. Record graduates. More people getting some support from their parents and pursuing higher degrees. Companies cutting wages, clawing back bonuses and closing departments, if not shutting down altogether. Individuals and businesses have turned to social media and selling products via livestream, where competition is still fierce but the potential for overnight success remains. Complicating the job market further is a local culture that prizes work, even if it means regular overtime and weekend conferences. The unhealthy competition is most apparent in China's electric car market, where fierce competition has led to a race to the bottom, prompting government warnings to stop what's colloquially known as "neijuan," or involution. That's not even accounting for the economic impact of escalating trade tensions, which resulted in a 34% plunge in China's exports to the U.S. last month, official data showed Monday. About 16 million jobs in China are tied to U.S. exports, Goldman Sachs has estimated. Monthly business surveys for May showed contraction in the labor market across the board. The data indicate a situation rarely seen in the past decade, Goldman Sachs' Hui Shan pointed out in an analysis published last week. "Labor markets are very weak, especially in construction and among small businesses." But "labor market weakness could be a catalyst" for more stimulus, the report said. China's top leaders typically hold a policy meeting in late July. Mark Smith, CEO of mineral development company NioCorp, says that the U.S. needs to find a way to get along with China for its supply of heavy rare earths while the former builds up its supply chain, and that stockpiling of critical minerals is unlikely to be effective, as China is the sole supplier. Robin Xing, Chief China Economist at Morgan Stanley, discussed the ongoing differences between the U.S. and China, ranging from trade to EVs, and how that affects sentiment in China. Meituan's Keeta unit launched drone deliveries in Hong Kong, extending its existing routes in Mainland China. Meituan's Vice President Yinian Mao spoke with Emily Tan about the company's drone delivery dreams and how they fit into its broader operations. U.S.-China agree on framework following London talks. The U.S. and China have reached an agreement on trade, representatives from both sides said Wednesday after a second day of high-level talks in London. U.S. President Donald Trump and Chinese President Xi Jinping spoke by phone late last week, stabilizing what had become a fraught relationship with both countries accusing each other of violating the Geneva trade agreement. China's consumer price index fell in May. It was the fourth-straight negative read. Core CPI, which excludes food and energy prices, did recover from a high last seen in January. Trade data pointed to modest growth in exports in May, while imports fell far more than expected, another sign of weak domestic demand. U.S. has exaggerated Huawei's chip developments. So says the Chinese telecommunications company's CEO, in an interview published on the front page of the Chinese Communist Party's newspaper on Tuesday. Ren Zhengfei said while Huawei chips are one generation behind those of U.S. peers, the company is finding ways to offset the gap. Chinese and Hong Kong stocks climbed in early trade on Wednesday after leaders from the U.S. and China said they have reached an agreement on trade. Mainland China's CSI 300 was up 0.8% to its highest level in over two weeks, while Hong Kong's Hang Seng Index — which includes major Chinese companies — rose 0.6% as of 11 a.m. local time. The CSI 300 has lost roughly 0.97% while the Hang Seng Index has gained over 21.54% so far this year. June 11: Xpeng G7 car launch June 13: Chinese Vice Premier He Lifeng is scheduled to depart the U.K. after U.S.-China trade talks and other meetings June 16: China retail sales, industrial production and investment data for May


CNBC
35 minutes ago
- CNBC
Dollar holds steady after U.S., China reach framework deal to ease export curbs
The dollar was steady against its major peers on Wednesday, after U.S. and China agreed on a framework for a trade agreement that investors hoped could potentially pave the way to resolving a damaging trade war between the world's two largest economies. In early Asia trading, the dollar was down 0.14% against the Japanese yen at 144.770, and slipped 0.13% against the Swiss franc to last change hands at 0.8218. The euro was flat at $1.1427, while China's offshore yuan was little changed at 7.1881 per dollar. An index that measures the greenback against six other currencies was little changed and was last at 99.068. U.S. Commerce Secretary Howard Lutnick said that U.S. and Chinese officials concluded keenly watched talks in London that lasted for two days and agreed to put their trade truce reached last month in Geneva back on track. The framework included resolving China's export restrictions on rare earth minerals and magnets, and will also remove some U.S. export restrictions that were recently put in place. "The devil is going to be in the details and importantly whether this can help to reestablish trust between President Xi and President Trump, which has clearly been broken since the Geneva Agreement was published," said Ray Attrill, head of FX strategy at National Australia Bank. "But it's way too early to say that we know we're in the midst of establishing a cast iron, new U.S.-China trade agreement." Much of the year has been dominated by investors fretting over the likelihood that U.S. President Donald Trump's erratic policies could tip the U.S. economy into a recession, and in turn hurt global growth. The erosion of investor confidence in U.S. assets has severely undermined the dollar, which is down more than 8% so far this year. Later in the day, investors will closely parse a U.S. consumer inflation report that could reflect the economic impact of tariffs on prices, potentially determining the trajectory of the Federal Reserve's monetary policy for the rest of the year. The Fed is expected to hold rates steady next week, with traders pricing in nearly two 25-basis-point cuts by the end of the year. UK's sterling was marginally higher at $1.35 as markets awaited British finance minister Rachel Reeves' public spending plans. The currency came under pressure overnight after data pointed to a weak labor market.
Yahoo
35 minutes ago
- Yahoo
Cybertruck Sales Are So Bad That We Gasped
There's little left for us to say that can further embarrass the Tesla Cybertruck, a vehicle that was supposed to be the culmination of Elon Musk's genius. And maybe this is what Musk's genius looks like. The luckless EV has faced eight recalls so far, and its trademark stainless steel panels, when they aren't flying off, have demonstrated that they're better at serving as a shiny canvas for spray paint than as the armor of an "apocalypse-proof" tank. But somehow, its already dire sales are now even worse than expected. In the entire first quarter of 2025, Tesla has managed to sell just 7,100 Cybertrucks in the US, according to registration data from S&P Global Mobility cited by the Wall Street Journal. It's an astounding and rapid plummet, when in the fourth quarter of 2024, Tesla sold close to double that amount, with roughly 13,000 Cybertrucks. A lot changed between those two quarters — like Musk embarking on a spectacular speedrun to destroy his and Tesla's image, mainly by leading the Trump administration's charge to gut the federal government. These actions, and Musk's personal espousing of far-right politics, sparked worldwide protests against him and his automaker. It has yet to recover, with Tesla's total sales in the US dropping nine percent in the first three months of this year. There are other factors at play, too, like the success of its Chinese competitors and its aging vehicle lineup, but the imploded brand reputation looms largest. And more than any other of its vehicles, the Cybertruck for one reason or another has embodied the public's souring sentiment on Musk, becoming prime targets for vandalism. They're also notoriously unreliable, sold for nothing less than $100,000 before cheaper $70,000 versions were desperately rolled out, and launched with a range over 150 miles shorter than what Musk promised. In all of 2024, the company sold fewer than 40,000 Cybertrucks. The most recent quarter's tally makes Musk previous boast that the automaker would sell up to half a million Cybertrucks per year even more ridiculous. Is it any wonder that buyers are staying away? So few people want to buy these things that in May Electrek reported that Tesla was sitting on an inventory worth $800 million of 10,000 unsold Cybertrucks — an embarrassment as much as it is a logistical headache. Dealerships have resorted to dumping their glut of the unorthodox pickup trucks in deserted parking lots. The pain isn't likely to stop anytime soon. Trump's tariffs, which factored into Musk's fallout with the president, will drive up the costs of car parts. The administration also plans to axe tax credits for purchasing EVs, demolishing a huge incentive for American consumers to buy from automakers like Tesla. More on Tesla: Terrifying Footage Shows Self-Driving Tesla Get Confused by the Sun, Mow Down Innocent Grandmother Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data