Secretary of the Municipal Committee of the city of Hangzhou Zhou Jiangjun is under the consequence of serious violations of the party discipline and government legislation, the CCP’s Central Commission for Discipline Checking (CCDI) is said. The agency did not disclose the details of the estimated crimes of the official.
But the light of the truth is shedding Bloomberg agency. As the Agency writes, the Chinese authorities investigate serious disciplinary violations in the activities of one of the high-ranking officials. Presumably, a man will be judged for the purchase of shares of Fintech-company.
Agency comes to the conclusion that it is about Zhou Jiangun.
In August, information appeared in social networks that the Zhou Jiangyun family bought the shares of Fintech-company before its primary public placement in November 2020, and after the plans of the company’s listing were canceled by the decision of the authorities, read the article of the Chinese newspaper Paper. The name of the enterprise in publications was not mentioned, but now they are already removed, clarifies the Russian edition of Lenta.ru.
The official of the official bought ants of Ant, the subsidiary of Alibaba. Representatives of the company deny the fact of acquiring shares by anyone before the planned IPO last year. They argue that the company strictly observed all relevant laws and decisions in the listing process. Regulatory authorities announced a sudden stop of the IPO Ant on a record $ 35 billion in 2020 after his founder Jack MA publicly criticized financial regulators. Alibaba shares fell 3.7 percent in Hong Kong on Monday, August 23, despite the growth of shares of other technological companies.
Hangzhou turned into one of China’s richest cities in many respects thanks to Alibaba and related people. The Internet giant pays billions of yuan as taxes and is one of the leading employers in the city. This huge influence in Hangzhou contributed to solid relations with the local government. In 2019, Jiangyun presented Ma award “Honored Citizen Hangzhou”, celebrating a billionaire for his contribution to the economic and social development of the city.
However, now the Chairman of the PRC CZINPIN has intensified a long-term campaign against corruption. The struggle touched the leaders of large enterprises. Some of them fell under the investigation and even were executed.