The trial of the former chairman of Sichuan Hanlong Group Co. on charges of murder and organizing Mafia-like groups started in the central Chinese city of Xianning, the court said on its official Weibo account.
China’s premier Li Keqiang vowed to extend the fight against corrupt officials, no matter how senior they are, following a report in state media that former security chief Zhou Yongkang is tied to a graft investigation.
China’s onshore bond market experienced its first default as a solar-cell maker failed to pay full interest on its bonds, signaling the government will back off its practice of bailing out companies with bad debt.
President Xi Jinping’s campaign against corruption is growing into one of the broadest in China’s modern history, snaring dozens of businessmen and government officials and positioning Xi as the country’s most powerful leader in decades.
A Chinese official who was asked to comment on media reports about ex-security chief Zhou Yongkang, some of which said he’s being investigated for graft, responded that guilty officials will be punished no matter their rank.
A government-controlled Chinese newspaper linked Zhou Yongkang to a corruption probe for the first time, signaling that an official announcement of an investigation into the ex-security chief may be near.
Li Shufu, the Chinese billionaire chairman of Volvo Cars, said China should allow foreign carmakers to control their operations in the world’s largest auto market to encourage competition and bring down prices.
Chinese People's Political Consultative Conference Photos