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POLITICS & LAW

Update: China Huarong Chairman Falls Under Graft Probe

Lai Xiaomin. Photo: CFP
Lai Xiaomin. Photo: CFP

*Investigation is related to company’s financial backing of a electrolytic manganese producer in the Ningxia Hui autonomous region

*Sources say Lai Xiaomin’s successor as China Huarong party secretary has already been decided on

(Beijing) — China’s top graft-buster is investigating the head of China Huarong Asset Management Co. Ltd., the country’s largest distressed-asset management company.

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