Date
17 August 2017

Jiangsu’s ‘richest man’ under arrest, paper says

Suzhou Gold Mantis Construction Deco Co., Ltd (002081.CN) said Monday that director Zhu Xingliang was arrested by police but the incident had not affected company operations, China Business News reported Tuesday, citing a company statement. Zhu, 54, was the richest man in Jiangsu province with 18.9 billion yuan (US$3.12 billion) in assets, according to a 2013 survey. Unnamed sources said that the arrest was connected to bribery charges involving government officials. Suzhou Gold Mantis was a building contractor for several high-profile government projects, including the “Bird’s Nest” Beijing National Stadium. It reported a net profit of 1.57 billion yuan in 2013, up 41.21 percent year on year, and 31.82 percent growth in revenue to 18.37 billion yuan, the report said.

– Contact HKEJ at [email protected]

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