Apr 02, 2024 06:09 PM

BUSINESS

Former Chairman of State-Owned Automaker Caught in Corruption Dragnet

By Wang Xintong

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What’s new: An Jin, former chairman of state-owned Anhui Jianghuai Automobile Group Corp. Ltd. (JAC) (600418.SH), is being investigated by local graft busters as China steps up its crackdown on corruption in the auto industry.

An, also former Communist Party chief of JAC, is suspected of “serious violations of (party) discipline and law,” Anhui’s discipline inspection commission said in a brief statement Tuesday. The phrase is a common euphemism for corruption.

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