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Vice-head of China Valin Steel in bribe probe - prosecutor
July 17, 2014 / 9:36 AM / in 3 years

Vice-head of China Valin Steel in bribe probe - prosecutor

BEIJING, July 17 (Reuters) - Zheng Boping, vice-general manager of Hunan Valin Steel, one of China’s biggest steel producers, is being investigated for accepting bribes, state prosecutors said on Thursday.

China’s Supreme People’s Procuratorate said on its website ( that Zheng was being held in custody while investigations were going on. No other details were provided.

Zheng, 57, was appointed as vice-general manager of the firm in August 2010. Valin could not be reached for comment.

Valin is the second biggest shareholder in Australian iron ore miner Fortescue Metals Group and has also set up a joint venture in China with the world’s top steelmaker, ArcelorMittal to produce high-end steel for automobiles.

China’s campaign against deep-rooted official corruption has intensified since the appointment of President Xi Jinping last year, with several senior government figures and state company executives already in detention. (Reporting by David Stanway; Editing by Robert Birsel)

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