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China Resources chief accused of 'huge graft'
Hong kong Standard ^ | 07/17/2013 | Hong Kong Standard

Posted on 07/17/2013 6:51:25 PM PDT by TexGrill

A journalist with China's official Xinhua news agency on Wednesday accused the head of a key state-owned firm of ''corruption involving a huge amount''. The allegations -- in the form of an open letter to the ruling Communist Party's disciplinary department -- come as China's new leaders repeatedly pledge to stamp down on graft, AFP reports. But within hours of Wang Wenzhi detailing his allegations on China's Twitter-like Sina Weibo, his account was blocked and could no longer be accessed. Xinhua's own website itself carried a report on his posting, but then took it down. Chinese authorities have in some cases encouraged whistle-blowers to reveal alleged corruption, but have also sometimes cracked down on them. Wang accused Song Lin, chairman of China Resources (Holdings) Co, of losing the firm billions of yuan in a deal to buy assets from another company.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; News/Current Events
KEYWORDS: chinaeconomy
Global business tip
1 posted on 07/17/2013 6:51:25 PM PDT by TexGrill
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To: TexGrill

The entire Chinese system is corrupt, from top to bottom. It is in their very soul.

2 posted on 07/17/2013 6:54:15 PM PDT by lurk
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To: lurk
I see the Obama/Chicago Model of governing is spreading to the rest of the world.

I'm so proud...

3 posted on 07/17/2013 6:58:54 PM PDT by jonascord (Hurrah for the Bonnie Blue Flag that bears a Single Star!)
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