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Ten high-level executives under investigation





As China steps up its anti-graft drive, a swathe of Chinese CEOs and corporate chairmen have come under investigation of allegedly conducting bribery activities and embezzlement.


More than 70 senior directors from State-owned companies have been probed in corruption cases so far this year, said a senior official from the Party's Central Commission of Discipline Inspection this month, increasing 59 percent year-on-year. Senior management of private enterprises have also been investigated.


Now, let's take a look at 10 high-level executives of listed Chinese companies that have been under investigation in 2014.


Name: Chen Zhuolin

Title: chairman and CEO of Agile Property Holdings

Chen Zhuolin, chairman and CEO of Hong Kong-listed real estate developer Agile Property, was put under investigation by Kunming People's Procuratorate, a company filing in October revealed.

Chen was allegedly involved in an anti-corruption investigation against officials in Yunnan province where the company retains a real estate project with a total investment of 20 billion yuan ($3.22 billion), according to Chinese financial media Caixin.

The company's stock dropped after the revelation but rebounded slightly when Agile released information that the 52 year-old CEO had resumed his duties.

Chen was also accused of indecent assaults in 2013. The charges were later revoked.


Name: QI Guoqi

Title: CEO of Sealand Securities

Sealand Securities informed Shenzhen Stock Exchange on Nov 4 that Qi Guoqi was under arrest and has stepped down as the CEO.

Qi allegedly offered bribes in exchange for corporate bonds, reported Shanghai-based media citing industry insiders.

Sealand is the only broker licensed in Guangxi province to provide brokerage services nationwide, and has been listed on the Shenzhen exchange since 2011.


Name: Song Lin

Title: chairman of China Resources Group

Song Lin, chairman of China Resources Group, is under investigation for suspected serious violations of discipline and law, said the Hong Kong-based State-owned enterprise in April.

The company said in a statement that it would cooperate fully with the anti-graft authority and work to ensure its business runs normally.

Authorities were tipped off to Song by Wang Wenzhi, a journalist with the Xinhua-run Economic Information Daily. Wang claimed that Song was suspected of embezzlement, dereliction of duty and keeping a mistress or mistresses.


Name: Wang Yujun

Title: president and executive director of China Resources Power Holdings

Wang Yujun, president and executive director of China Resources Power, is in detention on alleged charges of corruption and bribery by the People’s Procuratorate of Zhenjiang city, Jiangsu province, the company announced on Sept 21.

Wang, having resigned from all his roles in the company, is among eight other members of China Resources Group’s senior management under investigation.


Name: Sun Zhaoxue

Title: general manager of China Aluminum Corp

Sun Zhaoxue, former general manager of China Aluminum Corp, was found to have taken advantage of his position to 'secure benefits for others, solicit and accept a huge amount in bribes,' said the CPC Central Commission for Discipline Inspection in an announcement on Dec 23.

He is also allegedly guilty of adultery and has been expelled from the Communist Party, the announcement added, as China steps up its anti-graft campaign.

Sun has been held for investigation for 'suspected serious legal and disciplinary violations' since September. His case has been already handed over to prosecutors.

Before joining Chalco, Sun served as general manager of the China National Gold Group Corp, the country's biggest gold producer, from 2006 to 2013.


Name: Jessica He Yan

Title: chairwoman of Chengdu GoldTel Group

He Yan, who is also known under the alias He Ran is the president of Chengdu GoldTel Group. He was under arrest and accused of embezzlement, the Shenzhen-listed company said in a filing in January earlier this year.

According to GoldTel's earlier announcement, Yichang police bureau of Jiangxi province has been investigating He Yan and the company has lost contact with her.

She is among several senior management members of Sichuan-based listed companies that have gone missing. Liu Han, chairman of Sichuan Hanlong, was sentenced to death in May on charges including murder and leading an organized crime group in China.

He and Liu are allegedly involved in the anti-corruption probe against former top security chief Zhou Yongkang, according to Caixin.


Name: Liu Zhanbin

Title: president of Sanjing Pharmaceuticals

Liu Zhanbin, president of Sanjing Pharmaceuticals, leapt to his death from a hospital window eariler this year.

The 51-year-old was put under investigation by the procurator of Heihe city, Heilongjiang province, on suspicion of corruption. Liu later claimed to be sick, slipped away from his guards during a medical examination, and jumped from a hospital window and died.

Sanjing said in a statement that the incident had caused no major impact on the company. Its parent company, Harbin Pharmaceutical Group, is China's second-biggest drug maker by market value.


Name: Wang Shuaiting

Title: executive director and vice-chairman of China Travel Services Hong Kong

Wang Shuaiting, executive director and vice-chairman of China Travel Services Hong Kong, is under investigation by the Central Commission for Discipline Inspection of the CPC and has tendered his resignation, the State-owned company announced in May.

The Hong Kong-listed SOE engages in tourism, industrial investment, real estate development and logistics trades.

The company statement added that Wang will be also be held accountable for serious offences he made before joining the China Travel Services. His earlier positions include time as chairman of China Resources Power.



Name: An Dewu

Title: former deputy general manager of FAW

China's graft watchdog announced in September that it was investigating An Dewu, former deputy general manager of FAW Group Corp, a Chinese partner of Volkswagen AG and Toyota Motor.

The Jilin Provincial People's Procuratorate opened the case against An Dewu, suspecting that he accepted bribes, the country's Supreme People's Procuratorate said in a statement.

An retired from the board of the Shenzhen-listed company in 2008.

One of China's biggest automakers, FAW is among the latest batch of State-owned firms targeted by the anti-graft body.


Name: Hua Bangsong

Title: chairman of Wison Engineering Service

Hua Bangsong, chairman and controlling shareholder of Wison Engineering Service, is under arrest by Chinese public security authority over alleged bribery activity.

A recent announcement reveals that authorities believe Hua of offering unlawful advantages to Wison's customers and conspiracy to commit a tender-offer fraud.

'Following an investigation into the shareholding of the company, there is no evidence to show that Hua is connected to Zhou Bin or that he holds any shares on behalf of any other person,' said Wison, in an announcement clarifying the connection between Hua and Zhou Yongkang's son.