He Ping, the son-in-law of China's Deng Xiaoping, is to remain the vice-chairman of two Hong Kong-listed companies - Poly Investments Holdings and Continental Mariner Investment - despite rumours that he is to quit the companies.
Xie Datong, managing director at Continental Mariner Investment and executive director at Poly Investments Holdings, said rumours about Mr He were flying around because he was a famous person.
Mr Xie also defended the Beijing Poly Group, parent of both listed companies, against an accusation by US federal agents that its subsidiary Poly Technologies and other mainland-owned companies were smuggling arms to the US.
Mr He also is the general manager of Poly Technologies.
Mr Xie said the parent company was not involved in any arms smuggling and its operations never broke the laws of China.
As the managing director of the two non-active listed companies, Mr Xie said the parent would inject new assets into both when it was appropriate. Total assets of the Poly Group were more than 11 billion yuan (about HK$10.23 billion). Investments included telecommunications, property and infrastructure.