BEIJING Nov 15 The chairman of a large Chinese
state-owned development company in southwestern Chengdu is being
investigated for unspecified crimes, the company said on Friday,
in what could be part of a broader crackdown on corruption in
Ping Xing, chairman of Chengdu Hi-Tech Development Co Ltd
, has been under investigation since August for
violations of party discipline, which in China is generally code
"Recently, the Chengdu commission on discipline inspection
has filed a case to investigate Chengdu Hi-Tech Group's chairman
and president, Ping Xing," the company said in a short statement
to the Shenzhen stock exchange.
"Through investigation, Ping Xing's behaviour is considered
a severe violation of party discipline, and he is suspected of
crimes. These criminal issues have been passed on to the
relevant legal authorities to handle."
The company has been responsible for developing two
neighbourhoods in Chengdu, a city of 14 million people, and has
invested roughly 33 billion yuan ($5.42 billion), according to
its holding company's website.
Since Sichuan provincial deputy party secretary Li Chuncheng
was toppled last December for "serious discipline violations", a
series of officials and business people have fallen under
suspicion, including former provincial deputy governor, Guo
Yongxiang, and He Yan, a local businesswoman, both of whom are
likewise being investigated for violations of party discipline.
President Xi Jinping has called the country's pervasive
corruption a threat to the ruling Communist Party's very
survival and has vowed to pursue powerful "tigers" as well as
Many officials have been caught up in the investigations,
which have now also extended to large state-owned companies.
As part of that campaign, China launched a series of graft
investigations into the energy sector, announcing in August and
September that five former senior officials of the country's
biggest oil business, China National Petroleum Corp,
were under investigation for "serious discipline violations".
A top executive at the country's largest bulk shipping
company, China COSCO Holdings , is also the
subject of a government probe.
Last Friday, COSCO announced its vice president, Xu Minjie,
had resigned - a day after it said he was "under investigation
by the relevant authorities".
A former COSCO Group chairman, Wei Jiafu, has also been
prevented from leaving China, the Beijing Times said in a report
citing unidentified company sources that was reposted by the
official Xinhua news agency.
The reports of Wei having been banned from leaving China
were baseless, COSCO Group said in a statement last week, vowing
to comply with the country's anti-graft procedures. It declined
further comment on the matter.
On Friday, China Merchants Bank said Wei, who is now the
bank's vice chairman, had resigned.
($1 = 6.1 yuan)
(Reporting By Adam Rose; Additional Reporting By Li Hui, Meg
Shen, Lee Chyen Yee and Chen Aizhu; Editing by Ben Blanchard)