Xinhua Journalist Accuses Senior Official of Bribery, Malpractice07-17 16:42 Caijing
Online crackdown on corrupted officials in China seems to have gained popularity among netizens, including investigative journalist, in a country where media is heavily censored.
In the latest case, Wang Wenzhi, chief correspondent with a Xinhua-run newspaper, accuses senior officials with China Resources of bribery, as well as malpractice in a $10 billion deal which led to huge losses of state assets.
China in May launched an investigation into Liu Tinenan, a minister level official for corruption, months after Caijing reporter Luo Changping, in a series of dramatic Weibo posts, publicly accused him of lying about his academic qualifications and engaging in "improper dealings" with business associations. Liu was former energy chief, and deputy head of the NDRC, the country's top economic planning agency.
Also on the twitter-like Weibo, Wang Wenzhi, who is working for the Economic Information Daily, said today he "earnestly requests" the county's party disciplinary organ investigate on the wrongdoings by a group of senior officials in the comPany led by CEO, who is ranked as a deputy minister level official.
|A screenshot of entires of Wang Zhiwen's Weibo|
The post stated that a subsidiary of the group had, at an abnormally higher price, acquired some 80 percent of stakes in a local mining group's assets, among which were dysfunctional coal mines that ended up as meadowlands.
The CNY10 billion deal, instructed directly by Song Lin, caused a loss of some 1 billion yuan for the state-owned company, Mr. Wang said.
The executives are also suspected of being involved in corruption, for which Mr. Wang said he would release more evidence in droves.
Shares of China Resources Power, a Hong Kong listed unit of China Resources, tumbled by over 10 percent today to close at a months' low.
The company claimed in a mid-day announcement that it had no idea of the reasons for changes in its stock prices, adding that it had no information to disclose as requested.
Mr. Wang's post has been deleted as of press time for unknown reasons. Despite an example of it working provided by Caijing's Luo Changping, non-anonymous accusation on Weibo is in any case a bold move in China.
"I know very well that such a move will bring me and my family huge risks," Mr. Wang concluded his statement in the post, "But I firmly believe....there is still justice in China, led by the Party."
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