Bai Guizhi, ex-head of Suzhou Industrial Park, probed for graft
The case of Bai Guizhi, who led a development zone with assets of 20 billion yuan, may be related to inquiry into top ex-Nanjing official
The former president of a China-Singapore venture which held assets of 20 billion yuan (HK$25 billion) was under investigation for suspected corruption, the authorities said yesterday.
Bai Guizhi, who until a few days ago headed the China-Singapore Suzhou Industrial Park Development Group (CSSD) and is deputy secretary of its party committee, "seriously violated discipline" - usually a euphemism for graft - according to the Jiangsu provincial discipline inspection authority.
Bai was promoted "not long ago" to chief of the CSSD, which is mainly involved in property development projects, urban infrastructure contracts and overseas investment.
There were other investigations targeting former members of the group's party committee, an anonymous source told the South China Morning Post.
A CSSD official said Bai was implicated in the investigation of Feng Yajun , formerly a member of the standing committee of the Nanjing party committee, according to the 21st Century Business Herald. Nanjing is the capital of Jiangsu.
"They have a common briber," the unnamed official was quoted as saying.
The group issued a circular announcing Bai's dismissal several days ago, the report said.