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ICBC, Huatai Mentioned in Leaks Case, Economic Daily Reports

Industrial and Commercial Bank of China Ltd. and a unit of Huatai Securities Co. were among companies mentioned in a government file relating to a case of leaked economic data that resulted in two former government officials being sentenced to jail, the Economic Information Daily reported, without saying where it obtained the information.

Founder Securities Co., China Securities Co., Orient Securities Co., Fortune Securities Co., Sun Life Everbright Life Insurance Co. and Gold Mellon Asset Management Co. were the other companies listed, the newspaper reported, without giving more details about the file in which their names appeared. The unit of Huatai was Huatai United Securities Co., according to the report. Economic Information Daily is an affiliate of the official Xinhua News Agency.

Chen Yong, a spokesman for Founder Securities, said, “the report about our company is nonsense.”

Calls to ICBC’s media department, Orient Securities’s media department, Huatai Securities’s spokesman, and the main lines at China Securities and Fortune Securities weren’t immediately answered. Sun Life Everbright didn’t immediately reply to a message left with its front desk seeking comment. Phone numbers listed on Gold Mellon Asset’s website weren’t in service when called today.

Wu Chaoming, a researcher with Finance Institute at the People’s Bank of China, was sentenced to six years in jail for intentionally revealing secret data to the securities industry, the government said Oct. 24. Sun Zhen, a former secretary to a deputy director in the National Bureau of Statistics, was sentenced to five years in jail for disclosing state secrets.

--Jiang Jianguo. Editors: Greg Turk, John Liu

To contact Bloomberg News staff on this story: Jiang Jianguo in Shanghai at +86-21-6104-

To contact the editor responsible for this story: Gregory Turk at

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