Shareholder of Shenzhen Airlines investigated. Zhang Dejiang implicated.
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Li Ruohong,former deputy director of
Guangdong
Financial Services Office was originally
chairman of
Guangdong Development Bank..
He is under investigation by the authorities
for suspected involvement in the
Shenzhen Airlines
privatisation scandal.
Li Zeyuan who purchased Shenzhen Airlines
talked to
Zhang Dejiang of the
Central Politburo
Standing Committee
when he purchased
Shenzhen Airline stock in 2009.
Let's look at the details.
According to mainland website, Caixin, 59-year-old Li
Ruohong was in charge of the
Guangdong Development
Bank for ten years from
1994.
Guangdong Development Bank's affiliate Guangkong
Group
is the largest shareholder in Shenzhen Airlines.
In
2005, Guangkong Group intended to sell 65% of
Shenzhen
Airline stock.
Li Zeyuan, an unknown businessman entered Shenzhen Airlines
with the sky - high price of 2.7 billion Yuan to beat
China
International Airlines (Air),
CITIC Group,
Ping An Insurance
and even a foreign tycoon, making a hit.
Li Zeyuan set up Huirun
Company in
March 2005.
The shareholders included himself, the director of the
General
Logistics Department Admiral Zhao Nanqi's daughter
Zhao Li,
and former
Minister of National Defense,
Admiral Qin Jiwei's
daughter Qin Wanjiang and
Jiang Zemin's mistress
Song Zuying's
sister
Song zuyu.
According to mainland media
Southern Weekend's disclosure,
Li Xeyuan had served as a certain
Military Commission leader's bodyguard.
Li Zeyuan dropped out at third grade of elementary school,
joined the army at 14 by claiming to be16 years old.
It was arranged for him to work by the Military Commission
leader's side."
And the leader was suspected by the public to be
Zhao Nanqi
a member of the
Central Military Commission.
At the end of 2009, Li Zeyuan was arrested.
It is said that Li Zeyuan borrowed money to acquire equity
in Shenzhen Airline stock to control the situation.
Then he gradually used Shenzhen Airlines money
to pay off the debt.
Mr Li admitted he took 2 billion
RMB
and left a 10 billion Yuan financial black
hole in less than
four years.
In January, Li Zeyuan was sentenced to 14 years in prison on
charges of misappropriating funds.
June 5, Li Zeyuan said at his last hearing that he talked
to Guangdong government officials
when he bid for Shenzhen Airlines.
At that time, Zhang Dejiang, chairman of Guangdong
Party personally had a hand in the Senzhen
Airline stock auction.
Li Ruohong was sacked, so they say to save the skin of
Zhang Dejiang, regarded as a central figure in Jiang
faction's
Jilin group.
Hua Po,
Beijing political watcher : "Anti-corruption in
China
is rarely a pure economic issue but has political considerations.
The great China economic cake has been mastered by the bigwigs.
It involves for sure Zhao Nanqi, Zhang Dejiang and the Jilin
gang because these officials relied on these powerful tools.
It's certainly targeted at Zhang Dejiang now to throw out these
things."
Born in Jilin, Zhang Dejiang had studied in
North Korea and
served as VP in
Yanbian University.
At the time, Zhao Nanqi vigorously promoted
Dejiang.
After
1989 June 4th, Jiang Zemin served as general secretary
of the
Chinese Communist Party.
Zhao Nanqi was appointed minister of the General
Logistics Department
South and Central Military Commission
member.Zhang Dejiang was promoted as Jilin,
Zhejiang and Guangdong
secretary because of Zhao Nanqi's high recommendation.
Zhang Dejiang was promoted to
Vice Premier of the State Council
in 2008 and
Politburo Standing Committee member after
2012
eighteenth national
Congress.
Li Shanjian US commentator: "Two possible signals: one is to
attack in an indirect way: if Zhang Dejiang is smart enough
to change faction,
Xi Jinping might release him.
Whatever, there might not be pure economic reasons
for the information released from
Chinese officialdom,
that someone has a problem."
Zhang Dejiang was reviled by millions of netizens because of
ordering a stop after an
8 hour rescue attempt in the
Wenzhou
motor car accident when he served as Zhe Jiang
Secretary.
Li Shankjian: "Another possibility is to deal with him.
Especially as
Xu Caihou has been arrested and Zhang Dejiang
is considered as a Jiang faction person.
Xi Jinping used the trick of surrounding the city on four sides
to take care of all his first targets, then the main guy."
Jiang's faction is being reduced by the removal of his henchmen:
Su Rong, Xu Cahou and Zhao Nanqi. Who's next?
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