19 August 2019

Eight punished in CRCC reception spending scandal, Xinhua says

Eight people have been punished in a scandal involving lavish receptions at China Railway Construction Corp. Ltd. (CRCC) (01186.HK, 601186.CN ), Xinhua news agency reported Tuesday, citing Qiang Weidong, head of disciplinary affairs of the State-Owned Assets Supervision and Administration Commission. CRCC said in March it had spent 837 million yuan (US$136.3 million) on receptions last year, causing public outrage. An investigation found spending on receptions was generally in accordance with regulations but invoices, reimbursements and accounting were irregular and non-transparent, the report said. In all, 57 people have been reprimanded, eight punished and one taken to judicial authorities for prosecution.

– Contact HKEJ at [email protected]



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