Bo Xilai

Three SOE chiefs replaced in shake-up in Dalian

PUBLISHED : Saturday, 12 May, 2012, 12:00am
UPDATED : Saturday, 12 May, 2012, 12:00am

Three chairmen of state-owned enterprises headquartered in Dalian have been replaced, but the companies insist they were not sacked and that the changes have nothing to do with any political fallout from the Bo Xilai scandal.

Bo was mayor of Dalian in Liaoning province, from 1992 to 2000. He was dismissed as Chongqing party secretary in March and stripped of all party posts in April because of 'serious violations of party discipline'.

In a document dated May 7, the Dalian branch of the State-owned Assets Supervision and Administration Commission (Sasac) confirmed that Yu Baohe had quit as chairman and general manager of Dalian Equipment Manufacturing Investment. He was replaced by Wang Chun.

The document used the term mian qu to describe Yu's departure, which possibly suggests his removal or dismissal from the posts. However, a Dalian Equipment spokeswoman told the South China Morning Post: 'This is a normal change of posts. This has nothing to do with Bo Xilai. You think too much.'

Yu was previously deputy director of Dalian Sasac and deputy chief of the Dalian Audit Department.

On February 8, Xing Liangzhong resigned as chairman of the PDA Corporation, the state-owned parent of Dalian Port (PDA), the Hong Kong and Shanghai-listed operator of the city's port. The resignation was confirmed by Dalian Port joint company secretary Zhu Hongbo.

Xing was replaced as PDA Corporation chairman by Hui Kai, who was also appointed chairman of Dalian Port on April 27. A PDA spokesman said Xing, who was vice-mayor of Dalian from 2003 to 2008, had retired because he was 62.

On February 20, Sun Hong resigned as chairman of Dalian Port 'due to his commitment to other jobs', a Dalian Port announcement said. The 49-year-old was later appointed mayor of Zhuanghe, a city in Liaoning province.

'Sun has been transferred to another post,' said Zhu, who insisted the resignations of Sun and Xing had nothing to do with politics.

Dalian Equipment has several listed subsidiaries, including Dalian Refrigeration (listed in Shenzhen), Dalian Rubber & Plastics Machinery (listed in Shanghai), Wangfangdian Bearing (listed in Shenzhen), and Dalian Huarui Heavy Industry Group (listed in Shenzhen), according to Dalian Equipment's website.

In 2010 its gross assets rose 52.2 per cent to 78.6 billion yuan (HK$96.67 billion), sales were up 33.6 per cent to 50.2 billion yuan, and profit grew 60.4 per cent to 4.4 billion yuan.