Aug 22, 2023 05:05 AM

BUSINESS

Cigarette Industry Crackdown Nets Another Top Executive

By Huang Yanhao and Han Wei

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China is the world’s largest tobacco market and home to more than 300 million smokers, about a third of the world’s total

China is the world’s largest tobacco market and home to more than 300 million smokers, about a third of the world’s total

A businessman who controls a Shanghai-traded cigarette packaging materials supplier became the latest target on investigators’ radar in a corruption crackdown sweeping China’s tobacco industry.

Xu Shanshui, controlling shareholder and chairman of Anhui Genuine New Materials Co. Ltd., was placed under detention by the anti-graft authority in Jiangxi province for investigation on suspicion of bribery, the company said in a filing.

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