Senior official in court
By Zhang Xuanchen |
March 19, 2010, Friday
|
Print Edition
Print Edition
A FORMER senior official in the Ministry of Commerce in charge of foreign investment has gone on trial for allegedly accepting assets and bribes worth more than 8 million yuan (US$1.17 million).
Guo Jingyi, 44, is said to have provided preferential treatment in exchange, prosecutors at Beijing No. 2 Intermediate People's Court said.The former senior official in the ministry's treaty and law department was responsible for laws on foreign capital, yesterday's Beijing Evening News reported.
Guo 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 start its foreign fund company.
In return, prosecutors said, Guo and Liu were given houses at 50 percent of the market price.
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.
Liu and Xu have also been detained.
Guo Jingyi, 44, is said to have provided preferential treatment in exchange, prosecutors at Beijing No. 2 Intermediate People's Court said.The former senior official in the ministry's treaty and law department was responsible for laws on foreign capital, yesterday's Beijing Evening News reported.
Guo 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 start its foreign fund company.
In return, prosecutors said, Guo and Liu were given houses at 50 percent of the market price.
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.
Liu and Xu have also been detained.
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