China Resources Songlin case continued to ferment

The Central Government Strengthens the Audit of China Resources in Hong Kong by Central SOEs: Some colleagues suddenly disappeared and the office was sealed

Song Lin, former chairman of the China Resources Group, was suspected of serious breach of discipline. The Central Commission for Discipline Inspection strengthened the audit work of Hong Kong's central SOEs, including China Resources, CITIC, China Merchants, and other top five Chinese companies in Hong Kong.

After attending the “China Forum” organized by the American Chamber of Commerce on May 9, Yu Liming, vice president of China Merchants, acknowledged to reporters that the relevant audit work is ongoing and has been strengthened. He said that the Central Government has regular inspections of central SOEs each year and it is a normal procedure.

A person close to the CITIC Group also disclosed that the Central Disciplinary Commission's audit work "is very powerful at this stage."

Hong Kong media previously reported that the Songlin case caused the Central Commission for Discipline Inspection to conduct major anti-corruption rectifications at central SOEs in Hong Kong and conducted a definitive audit of the five major Chinese-funded groups including China Resources, Bank of China, China CITIC, Everbright International and China Merchants. The report also said that in addition to the five major central enterprises, the mainland provinces also have 35 window companies in Hong Kong and Macao.

An insider of the China Resources Group also revealed recently that things are continuing to ferment and more people will be investigated by the Central Commission for Discipline Inspection. The Group’s Strategic Management Department has been investigated. “The first two days were still in Hong Kong and suddenly people were gone. The office has a white seal."

China Merchants International announced on Friday that the chairman Fu Yuning resigned as an executive director and chairman of the board of directors of the company due to work assignments, and Li Jianhong served as chairman of the board of directors. Fu Yuning was transferred to the China Resources Group as chairman on April 23, and Song Lin’s position as chairman was removed.

In addition, according to the unified deployment of the SASAC Party Committee, the first round of patrols by the SASAC in 2014 has started recently. As of May 7, all six SASAC inspection teams have been stationed to conduct inspections on six central enterprises, including China National Electric Power Construction Corporation, China CNR, China Unicom, Wuhan Institute of Posts, China West Power Group and China Steel Research Institute. .

This year’s inspections will be centered on the deployment and requirements of the Central Committee and the State-owned Assets Supervision and Administration Commission, and will focus on the construction of the Party’s work style, clean government, and anti-corruption work, and effectively strengthen supervision over the leadership of the central enterprises and their members, especially the main leaders. Deduct "four forces" to find problems and effectively form a shock.