china probes top executive of auto giant faw
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

China probes top executive of auto giant FAW

Arab Today, arab today

Arab Today, arab today China probes top executive of auto giant FAW

FAW Group CEO Xu Jianyi (R)
Shanghai - AFP

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.
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., was down 1.50 percent in late morning trading 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.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china probes top executive of auto giant faw china probes top executive of auto giant faw

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china probes top executive of auto giant faw china probes top executive of auto giant faw

 



GMT 10:10 2017 Thursday ,09 February

3 Important Elements You Have to Consider

GMT 04:03 2017 Monday ,24 April

Bella Hadid ‘dying’ to visit Palestine

GMT 19:25 2016 Wednesday ,25 May

The Brooklyn Desk by Oeuf NYC

GMT 07:49 2018 Friday ,05 January

2 Russian servicemen killed

GMT 07:58 2018 Monday ,01 January

Italy orders N. Korea's envoy to leave

GMT 08:45 2017 Wednesday ,20 December

US military imagines war without GPS

GMT 17:26 2017 Sunday ,17 December

Putin thanks Trump for help in foiling attack plot

GMT 22:19 2017 Monday ,16 October

Cairo-hosted Fatwa conf. new contribution

GMT 02:27 2016 Friday ,10 June

Video hints Japan abetting illegal ivory trade

GMT 07:04 2017 Wednesday ,19 April

1,883 Bahrainis found jobs in March

GMT 14:24 2016 Tuesday ,22 November

Citi and JPMorgan top list of ‘globally banks’
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday