China Jails Ex-Chief of Auto Gi­ant FAW for Bribery

The Economic Times - - Around The World -

Beijing: The for­mer chair­man of Chi­nese auto gi­ant FAW was jailed on Thurs­day for tak­ing more than a mil­lion dol­lars in bribes, in the lat­est penalty meted out to a top ex­ec­u­tive of a state-owned firm. Xu Jianyi was sen­tenced to 11 and a half years in prison for tak­ing more than 12 mil­lion yuan ($1.75 mil­lion) in ex­change for as­sist­ing “the busi­ness op­er­a­tions and pro­mo­tion and re­lo­ca­tion” of oth­ers, a Beijing court said. The graft hap­pened from 2000 to 2013, the First In­ter­me­di­ate Peo­ple’s Court said in a brief state­ment posted on its of­fi­cial so­cial media ac­count, with­out pro­vid­ing fur­ther de­tails. FAW, orig­i­nally known as First Au­to­mo­tive Works, is China’s third big­gest au­tomaker with sales of more than three mil­lion ve­hi­cles last year. AFP

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