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China Resources Holdings' ex-audit director questioned in corruption probe-official media
August 25, 2014 / 5:26 AM / 3 years ago

China Resources Holdings' ex-audit director questioned in corruption probe-official media

HONG KONG, Aug 25 (Reuters) - Chinese police are questioning the former audit director of China Resources Holdings Co Ltd as part of a broad investigation into suspected corruption in the state-owned company, a government newspaper reported on Monday.

The Economic Information Daily said Huang Daoguo, who retired this month, was believed to have illegally obtained an audit report on China Resources Holding, which he passed on to the company’s now sacked chairman, Song Lin.

China Resources Holdings is a holding company for a group of energy, land and consumer businesses in mainland China and Hong Kong. Huang was also an non-executive director at several of the group’s units, including China Resources Gas, China Resources Cement and China Resources Power, the paper said.

China’s top anti-corruption body has been investigating China Resources Holdings and its units for several months as part of a wide-ranging crackdown on graft by President Xi Jinping, who has pledged to tackle high-ranking “tigers” as well as lowly “flies”.

In April, the anti corruption body said former chairman Song was being investigated on suspicion of a serious violation of discipline. Violating discipline is official jargon for corrupt activities. Song was later sacked as chairman.

China’s National Audit Office has so far found irregularities at 11 state-owned conglomerates, including PetroChina Co Ltd’s parent China National Petroleum Corp and China Resources (Holdings) Co Ltd , ranging from misrepresentation of assets to illegal property development, highlighting the challenges the government faces in overhauling the public sector, according to its audit report released in June. (Reporting by Donny Kwok; Editing by Anne Marie Roantree and Miral Fahmy)

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