China News  
SINO DAILY
China clothing tycoon back at work after vanishing
by Staff Writers
Shanghai (AFP) Jan 19, 2016


The chairman of one of China's most prominent clothing firms, Metersbonwe, has returned to work, the company said, a week after announcing his disappearance amid speculation he had been caught up in an insider trading investigation.

Zhou Chengjian, China's 62nd richest person last year with a fortune of $4.1 billion according to one estimate, was back working at the Shanghai-headquartered company after colleagues lost contact with him earlier this month, Metersbonwe said in a statement over the weekend.

It did not explain his disappearance, but said company operations were normal and board secretary Tu Ke -- who went missing at the same time as Zhou -- had also returned to work.

Chinese media reports said that Zhou might have been taken in for questioning in connection with an insider trading case, but gave no details.

His disappearance came weeks after Guo Guangchang -- chairman of one of the country's biggest private-sector conglomerates Fosun, and who has been dubbed "China's Warren Buffett" -- vanished from public view in connection with an investigation by authorities, and then re-emerged.

Since Xi Jinping took office as president three years ago, China has launched an unprecedented anti-corruption campaign, which has brought down government officials and corporate executives.

The state-backed China Economic News Weekly magazine reported on Monday that state-backed funds tasked with propping up the stock market during last year's rout bought shares in Metersbonwe, which trades on the Shenzhen stock exchange.

Metersbonwe lost nearly 177 million yuan ($27 million) in the first three quarters of last year, down 178 percent from the same period in 2014, its results report showed.

The firm -- which has been called a Chinese version of fast-fashion retailer H&M -- has nearly 4,700 outlets and franchises, according to its website.

azk/bxs/slb/fa

HENNES & MAURITZ

FOSUN INTERNATIONAL


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
China News from SinoDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
SINO DAILY
Activists targeted as workers of China unite
Panyu, China (AFP) Jan 15, 2016
Around a dozen police barged into Wu Rongpu's apartment in the early hours and dragged away his labour activist wife, leaving their one-year-old daughter screaming. "They came into the room and tore through everything they could" looking for evidence of Zhu Xiaomei's work for a small Chinese workers' rights organisation. Last week, just over a month after she was detained, authorities fo ... read more


SINO DAILY
Ukraine launches new China trade route bypassing Russia

WTO faults EU in nuts and bolts dispute with China

China FDI up 5.6 percent in 2015: official data

Chinese exports down in December, but better than forecast

SINO DAILY
S.Africa to import maize after driest season in 100 years

Bird flu detected in US turkey flock

Breed-your-own insect 'revolution' for the kitchen

Poultry farming frozen for bird flu cleanup in French SW

SINO DAILY
Several dead as Shebab storm African Union base in Somalia

China's imports from Africa plummet in 2015: officials

Niger holds 13 over failed December coup

Mali extends state of emergency until March 31

SINO DAILY
Ghost town tests self-driving cars of tomorrow

Renault shares keep on skidding on emission fears

Renault recalls vehicles amid failed emissions test

Daimler Trucks eyes swift return to post-sanctions Iran

SINO DAILY
Belgium's ageing nuclear plants worry neighbours

Belgium fails to reassure Luxembourg over nuclear safety: official

IAEA Starts Assessment of Japan's Efforts on Safe Use of Nuclear Plants

Japan to send plutonium cache to US under nuclear deal: report

SINO DAILY
DHS signs research cooperation agreement with root9B

US spy chief's personal accounts hacked

McAfee shifts presidential run, unveils cybersecurity plan

CACI wins place on DIA tech support contract

SINO DAILY
Hanoi slams 'erroneous statements' on China island flights

Philippines to offer eight bases to US forces: official

Philippines welcomes more US forces to counter China

Beijing asserts right to flights to South China Sea

SINO DAILY
Strong winds help Denmark set wind energy world record

Moventas Exceed receives DNV GL gearbox certification

Moventas rolls out breakthrough repairs for Siemens 2.3

Allianz and OX2 sign 21 MW wind power deal in Finland









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.