Two Former Top Men at Beijing Trust Firm Hit With Graft Probes

A former chairman and an ex-general manager of Beijing International Trust Co. Ltd. (BITIC), a state-owned financial firm, are under investigation for suspected corruption, with possible connections to a local official, Caixin has learned.

Zhou Ruiming, who works for Beijing Yiqing Holding Co. Ltd., and He Xiaofeng, who works for Beijing Xianglong Assets Management Co. Ltd., have been put under investigations on suspicion of severe violations of law and Communist Party discipline, Beijing’s local corruption watchdog said in separate announcements Friday. Such violations typically refer to corruption.