China Resources Chairman Song Faces Corruption Investigation
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China’s anti-corruption agency is investigating the chairman of China Resources Holdings Co. after domestic media repeated accusations a unit of the state-owned company deliberately overpaid for coal assets.
Song Lin, whose company is the parent of five Hong Kong-listed units, is being probed for “suspected disciplinary violations,” the Chinese Communist Party’s Central Commission for Discipline Inspection said in a statement on its website using language that signals a corruption probe.