China investigates former statistics chief, charges two execs with graft
- Wall Street set to open higher; Dow to hit record level
- Equinix (EQIX) Announces $3.6B Acquisition of Data Center Portfolio from Verzion (VZ)
- Roper Industries (ROP) to acquire Deltek in $2.8B Deal
- GoDaddy (GDDY) to Acquire Host Europe Group in ~$1.8B Deal
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
Wang Baoan attends a news conference in Beijing, China, in this January 13, 2010. REUTERS/Stringer/File Photo
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
SHANGHAI (Reuters) - China has detained the former head of the National Bureau of Statistics on suspicion of corruption, the state prosecutor said on Wednesday, as state media reported two senior executives from major state-owned companies had also been charged with graft.
The cases were the latest in a rolling campaign to root out deep-rooted corruption launched after President Xi Jinping assumed office almost four years ago. The crackdown has targeted a broad swathe of high-ranking officials, from members of the military to former judges and various ministry chiefs, as well as numerous bosses of state-owned companies.
Wang Baoan, a one-time deputy finance minister who became chief of the statistics bureau in mid-2015, was accused by the ruling Communist Party's anti-corruption watchdog in late August of serious violations of discipline, including extravagance, abuse of power and selling power for sex.
The state prosecutor said on its official microblog on Wednesday it had launched a case against Wang, begun a formal investigation and adopted "coercive measures" against the former official, meaning he had been detained.
It did not give further details.
The corruption watchdog announced the investigation of Wang in January. He was later expelled from the party.
It was not possible to reach Wang for a comment and unclear if he had been able to retain a lawyer. China's courts are controlled by the party, and convictions in such cases are generally a foregone conclusion.
Xinhua state news agency said prosecutors had also charged Xu Jianyi, the former chairman of state-owned FAW Group Corp [SASACJ.UL], with corruption.
Former PetroChina vice chairman Liao Yongyuan had also been charged, Xinhua said.
It was not immediately possible to contact Xu or Liao.
(Reporting by John Ruwitch in SHANGHAI and Beijing monitoring desk; Editing by Nick Macfie)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Austria to fine or jail migrants who lie to authorities
- Cyber security start-up Secdo raises $10 million
- KKR to buy majority stake in cybersecurity firm Optiv from Blackstone
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!