China Resources chairman investigated over new allegations

Song Lin, chairman of State-owned enterprise China Resources Holdings, is under investigation for suspected serious violations of discipline and law, the anti-graft authority said Thursday.

The Central Commission for Discipline Inspection (CCDI) of the Communist Party of China and the Ministry of Supervision released the news on their official website, a day after Song denied alleged wrongdoing.

Song, also the Party chief of China Resources, was earlier publicly accused, for the second time, by a journalist with the Xinhua-run Economic Information Daily on Tuesday.

Wang Wenzhi, the journalist, wrote a letter to the anti-graft watchdog claiming that Song was suspected of dereliction of duty and keeping a mistress.

Song said on Wednesday that the allegations have damaged his image and those of his family and business.

He also said that he would hold the rumormonger accountable by law, according to a personal statement released Wednesday on the China Resources website.

The UBS legal and compliance department has launched an internal investigation into Yang Lijuan, who is Song's alleged mistress and a Hong Kong-based investment banker with a UBS branch, insiders were quoted as saying by the South China Morning Post on Wednesday.

Yang is reportedly a corporate client liaison officer who deals with State-owned enterprises on the Chinese mainland.

Wang claimed that she aided Song in taking bribes and laundering money.

By Xinhua – Global Times