Date
17 December 2017
China Resources Capital Holdings Co. Ltd. chief executive Wu Ding has been detained, according to mainland media. Photo: China Resources company website
China Resources Capital Holdings Co. Ltd. chief executive Wu Ding has been detained, according to mainland media. Photo: China Resources company website

China Resources finance unit chief ‘in detention’

The head of the financial arm of the China Resources group has been detained, after the sacking of the group’s former chairman, the Hong Kong Economic Journal reported Friday, citing mainland media.  

Reports that China Resources Capital Holdings Co. Ltd. chief executive Wu Ding is under investigation come just days after the group sacked its former chairman Song Lin, who is under scrutiny from China’s top anti-graft agency.

Wu was taken away a few days ago when he was supposed to be taking a three-week leadership course at the China Executive Leadership Academy in Pudong, Caixin.com reported, citing anonymous sources.

Spokesmen for the financial unit refused to confirm who is now the chief executive or whether Wu, who is said to be closely linked to Song, is under investigation.

Song recently promoted Wu to assistant general manager of the group, the Economic Observer reported, citing company sources. Wu became the financial unit’s chief executive 18 months after it was founded in November 2009.

Information about Wu has been removed from the China Resources Capital Holdings website, according to reports by several mainland media.

And, Wang Hongkun, executive director of China Resources Land, was detained last Thursday. A company spokeswoman said she was not aware of the “rumors” about Wang’s detention. According to a stock exchange filing by China Resources Land on Tuesday, Wang, 46, resigned for health reasons.

– Contact HKEJ at [email protected]

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