China is awash with confusion over the true ownership of the hazardous goods warehouse that exploded in Tianjin last week, even as the Communist party seeks to assure the public there will be no cover-up.

对于上周发生爆炸的天津危险品仓库的所有权归属，各方似乎一头雾水，即便共产党力图向公众保证不会掩盖真相。

Identifying owners of businesses in China has been complicated since exposés of the family wealth of the Communist party’s most powerful leaders led to greater restrictions on corporate ownership registries.

在中国，确定企业主的身份一贯是复杂的，之前对共产党最高层领导人家族财富的曝光导致了对公司所有权登记的更大限制。

The task is further complicated by the practice of individuals legally holding shares on behalf of other, unnamed but more powerful, people, often on the basis of a verbal agreement.

令这项任务更加复杂化的是这样一种做法：个人代表别人（姓名不详但权位更高）依法持有股份，往往基于口头协议。

That seems to be the case for Shu Jing and Li Liang, who appear in State Administration for Industry and Commerce records as holding 45 and 55 per cent of

这似乎就是上周爆炸现场仓库的注册东家——瑞海国际物流(Ruihai International Logistics)的情况。根据国家工商行政管理总局(State Administration for Industry and Commerce)的登记资料，该公司的股东是舒铮和李亮，这两个自然人分别持股45%和55%。此次爆炸已导致至少114人遇难，70人失踪。舒铮和李亮两人对中国媒体表示，他们代表别人持股，但不肯说出是谁。

Ruihai International Logistics, the registered owner of the warehouse at the centre of last week’s devastation. The explosion killed at least 114 people and left 70 missing. Both Mr Shu and Mr Li told Chinese media they were holding their shares on behalf of someone else — but would not say who.

尽管官方媒体坚称，对天津这场灾难的调查将具有透明度，但对瑞海物流的神秘所有者的调查，却似乎只是由中国一些比较大胆的财经出版物在进行，他们挖掘了公司记录和消息来源，勾勒出一家后台不寻常的公司。

While state media have insisted there will be transparency in the investigation of the Tianjin disaster, the probe into the mysterious owner of Ruihai Logistics has fallen to China’s more adventurous financial publications, which have tapped corporate records and sources to build a picture of the well-connected company.

经营危险品仓库的许可证是不容易获得的，而瑞海物流的业务似乎是在邻近地块已被拍卖给住宅开发商之后获得批准的。

Licensing to operate a hazardous goods warehouse is not easy to come by, and Ruihai Logistics’ operation seems to have been approved after neighbouring lots had already been auctioned to residential developers.

令猜测火上浇油的是，天津的网上企业注册数据库在爆炸后四天期间无法访问。昨日该数据库恢复访问，但搜索瑞海物流却得到了令人好奇的空白。

Adding to the speculation, Tianjin’s online corporate registry database was inaccessible for four days after the blasts. When access resumed yesterday, a search for Ruihai Logistics yielded a curious gap.

该公司注册于2012年，但其目前的合法所有者只是在2013年才买下他们的股份。应该会曝光前期所有者的股权变更列表不知去向。

The company was registered in 2012 but its current legal owners only bought their shares in 2013. The historical list of changes that should have reflected the previous owners did not appear.

记录显示，瑞海的多名高管是中化集团(Sinochem)的前雇员。中化集团是国有的化工、化肥和铁矿石贸易商，在天津拥有最大的危险品仓库业务。中化集团上周五表示，它与这些高管不再有任何联系，该集团正在加强其仓库（在爆炸中受损）的安全工作。

The records reveal that many Ruihai executives are former employees of

《财经》等新闻机构昨日报道，瑞海的实际控制人之一是32岁的董蒙蒙，此人是天津港公安局原局长、去年已去世的董培军的儿子。英国《金融时报》联系不上董先生请其置评。

Sinochem, the state-owned chemicals, fertiliser and iron ore trader that owns the largest hazardous warehouse operation in Tianjin. Sinochem said on Friday it no longer had any ties to those executives and it was “strengthening safety work” at its own warehouses, which were damaged by the blasts.

《财经》称，公司记录中出现的个人都是代人持股的“蚂蚁”。

Caijing was among news organisations that reported yesterday that Ruihai was ultimately controlled by Dong Mengmeng, the 32-year-old son of Dong Peijun, a former head of public security at Tianjin Port who died last year. Mr Dong could not be reached by the FT for comment.