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Chengdu firm boss under probe for graft
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The chairman of a large Chinese state-owned development company in Chengdu, southwest China’s Sichuan Province, is being investigated for unspecified crimes, the company said yesterday, in what could be part of a broader crackdown on corruption in the city.
Ping Xing, chairman of Chengdu Hi-Tech Development Co, has been under investigation since August for violations of Party discipline, which is generally code for corruption.
“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 behavior is considered a severe violation of Party discipline, and he is suspected of crimes. These criminal issues have been passed on to legal authorities to handle.”
The firm has been responsible for developing two neighborhoods in Chengdu, a city of 14 million people, and has invested roughly 33 billion yuan (US$5.42 billion), according to its holding company’s website.
Since Sichuan provincial Vice 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 Vice Governor Guo Yongxiang.
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