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Commerce official faces bribery charge
By Zhang Xuanchen |
March 18, 2010, Thursday
|
Online Edition
Online Edition
A FORMER senior official in the Ministry of Commerce in charge of foreign investment went on trial today for allegedly accepting assets and bribes worth more than 8 million yuan (US$1.17 million).
Guo Jingyi, 44, who was detained last August, is said to have provided preferential treatment in exchange, said prosecutors at the Beijing No.2 Intermediate People's Court.
The former senior official in the ministry's treaty and law department had held his ministry post for four years, reported Beijing Evening News today.
He was responsible for designs and modifications of laws on foreign capital.
Guo had received 1.1 million yuan to change laws concerning the percentage shares foreign investors could control in Chinese-listed companies, said the prosecutors.
Guo is alleged to have cooperated with Liu Wei, the official in charge of foreign investment registration in the Administration for Industry and Commerce, to help Beijing-based Capital Group Co to start its foreign fund company.
In return, prosecutors said, Guo and Liu were given a house each at half the market price. Prosecutors said they gained more than 1.3 million yuan each from the deal.
Guo is also said to have cooperated with Xu Mangang, a senior official of the State Administration of Foreign Exchange, to give illegal help to an unnamed company in its foreign trade.
They took 3.87 million yuan for the help.
Liu Wei and Xu Mangang were also detained for investigation.
Guo is the top ranking official in the Ministry of Commerce ever toppled by corruption.
Guo Jingyi, 44, who was detained last August, is said to have provided preferential treatment in exchange, said prosecutors at the Beijing No.2 Intermediate People's Court.
The former senior official in the ministry's treaty and law department had held his ministry post for four years, reported Beijing Evening News today.
He was responsible for designs and modifications of laws on foreign capital.
Guo had received 1.1 million yuan to change laws concerning the percentage shares foreign investors could control in Chinese-listed companies, said the prosecutors.
Guo is alleged to have cooperated with Liu Wei, the official in charge of foreign investment registration in the Administration for Industry and Commerce, to help Beijing-based Capital Group Co to start its foreign fund company.
In return, prosecutors said, Guo and Liu were given a house each at half the market price. Prosecutors said they gained more than 1.3 million yuan each from the deal.
Guo is also said to have cooperated with Xu Mangang, a senior official of the State Administration of Foreign Exchange, to give illegal help to an unnamed company in its foreign trade.
They took 3.87 million yuan for the help.
Liu Wei and Xu Mangang were also detained for investigation.
Guo is the top ranking official in the Ministry of Commerce ever toppled by corruption.
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