“PROBLEMS that occur in business …should not be politicised.” So said President Xi Jinping before leaving China for London on a state visit this week (see article). He was referring to foreign critics of Chinese investment in Britain’s infrastructure. At home, however, his words had resonance too. Mr Xi’s fierce and unusually sustained crackdown on corruption has led to much anxiety among businessmen—especially those with close ties to political leaders and other officials.
Mr Xi’s campaign against graft has ensnared some prominent business figures. Last month it was announced that Song Lin, a former chairman of China Resources Group, a state-owned conglomerate, was being prosecuted. On October 7th came news that Su Shulin, a former chairman of Sinopec, a state-run oil company, was under investigation. Mr Su had been serving as governor of Fujian province, making him the first incumbent of that rank to be targeted in this campaign. Five days later Jiang Jiemin, the former head of PetroChina,...Continue reading
Source: China http://ift.tt/1QXk0w4
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