(Adds detail, context, comment from UBS)
BEIJING, April 17 The chairman of state-owned
China Resources Holdings Co. Ltd., a holding company
for a group of energy, land and consumer businesses in mainland
China and Hong Kong, is under investigation, China's top
anti-corruption body said on Thursday.
Song Lin is suspected of a serious violation of discipline,
the Central Commission for Discipline Inspection said in a
one-line statement on its website. Violating discipline is
official jargon for corrupt activities.
Song appears to be the latest official to fall in President
Xi Jinping's fight against corruption. Xi has vowed to tackle
high-ranking "tigers" as well as lowly "flies."
The statement from the anti-corruption agency comes after a
Chinese journalist accused Song of illegal financial dealings.
Song has denied the accusation.
The journalist, Wang Wenzhi, is a reporter for the Economic
Information Daily newspaper, run by the official Xinhua News
Agency. Wang said via his microblog on Wednesday that he had
notified the anti-graft body about Song's alleged wrongdoing.
Song, in a statement posted on his company's website earlier
on Thursday, said Wang's claims were slanderous.
"The report is pure fabrication and malicious slander. These
acts have caused great harm to the reputation of my family and
the company," he said, adding that he would pursue legal action.
Song was in the public eye last year when Wang and another
reporter accused a China Resources subsidiary, China Resources
Power Holdings Co. Ltd., of deliberately overpaying
for a group of coal mines, triggering a lawsuit against company
executives by a group of minority shareholders.
The company denied the allegations at the time.
Separately, a top energy official has been detained by
police for questioning, a respected Chinese magazine reported.
Hao Weiping, director of the nuclear power department of the
National Energy Administration, was detained along with his wife
on Tuesday, Caixin magazine reported, as his wife prepared to
leave the country from Beijing airport.
Neither Hao nor his wife were available for comment.
(Reporting By Megha Rajagopalan; Editing by Ron Popeski and