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SINO DAILY
China probes top executive of auto giant FAW: watchdog
by Staff Writers
Shanghai (AFP) March 16, 2015


Hong Kong tycoon Kwok's plea for bail rejected
Hong Kong (AFP) March 16, 2015 - A Hong Kong court rejected property tycoon Thomas Kwok's plea for bail Monday as he appeals a five-year prison sentence for bribing a senior official in a corruption case which shocked the city.

The 63-year-old, who was the joint chairman of Hong Kong's biggest property company Sun Hung Kai, was jailed in December after he was found guilty of conspiracy to commit misconduct in a public office over a series of payments totalling HK$8.5 million (US$1.1 million) given to former city deputy leader Rafael Hui.

The high-profile case shocked the city and deepened anger over cosy ties between officialdom and big business.

Kwok, who is serving his sentence at the city's maximum security Stanley Prison, has appealed the ruling and asked the court to grant him bail as he awaits the outcome.

But his plea was rejected by appeals court judge Yeung Chun-kuen. The court bars publication of any detail on the reasoning for the ruling.

Hui, the city's former Chief Secretary for Administration, was jailed for seven and a half years on a total of five graft charges, making him the highest-ranking official in the city's history to be found guilty of taking bribes.

During a seven-month jury trial leading to the conviction, the prosecution said Hui was made the "eyes and ears" in government for Sun Hung Kai, while he enjoyed an extravagant standard of living.

Hong Kong is seen as relatively corruption-free -- it was ranked the joint 15th cleanest country or territory in 2013 by watchdog Transparency International.

But the case fuelled anger at what locals call "collusion" between government and businesses, with many young Hong Kongers struggling with a lack of opportunity amid soaring property prices and stagnant wages.

China is investigating the top executive of one of the country's biggest automakers FAW, the Communist Party's corruption watchdog said, as a prolonged graft crackdown targets more state-owned companies.

The chairman and party secretary of China FAW Group, Xu Jianyi, had been placed under investigation for "severe" violations of discipline and the law, the Central Commission for Discipline Inspection (CCDI) said Sunday, using a phrase that typically refers to corruption. It gave no further details.

FAW, originally known as First Automotive Works, is China's third biggest automaker with sales of more than three million vehicles last year, according to an industry group.

Headquartered in the northeastern city of Changchun, FAW and Germany's Volkswagen have a passenger car joint venture that produces the Audi brand, among others.

Volkswagen said it was aware of the matter but declined specific comment on the investigation as it was continuing. FAW could not be reached.

Besides a long career in the auto industry, Xu, now 61, also held government and party posts in Jilin province where FAW Group is based, according to his biography on the company's website.

"As a responsible corporate citizen in today's global economy, we are proud of our success in contributing to the success and prosperity of society worldwide," Xu said in an introduction to FAW on the website.

The group's Shenzhen-listed unit, FAW Car Co., closed down 1.92 percent on Monday after news of the corruption probe.

Chinese President Xi Jinping launched a much-publicised drive against corruption after he came to power two years ago, vowing to target both high-level "tigers" and low-ranking "flies".

The CCDI said early this year that it plans to investigate all major state-owned enterprises.

But analysts say China has failed to implement institutional safeguards against corruption, such as an independent judiciary and free media, leaving anti-graft campaigns subject to political influence.


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