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An investigation into China’s high interest rate Chu Lam Yiu sent a list of Hong Kong-owned shares to Huabao International Holdings down 65 percent, with President Xi Jinping resuming his corruption scandal.
Chu, one of China’s richest women who owns a major share in the perfume and perfume industry, is being investigated by the government on “suspicious charges,” according to Hong Kong reports.
The company said in a statement that it had received a report from Huabao Flavors & Fragrances. “As of the date of this announcement, the company has not been notified of any of the allegations against Ms Chu Chu.
It added that the minor received information from the Leiyang City Management Committee, indicating that the investigation was being carried out by the Chinese Communist Party and the government.
No details were provided. The company declined to comment further.
Huabao, which Chu founded in the mid-20s in 1996, manufactures spices and perfumes used by tobacco manufacturers, including the e-tobacco or vaping market, as well as the food industry.
The growth of the company has made Chu one of the richest people in China. According to a report by Hurun, which looks at the profits of China’s richest retailers, Chu earned $ 7.6bn as of last year, recording 122. This equates to $ 2.7bn in 2012 when it hit 46th.
Like many Chinese high-tech businesses, they have also served on various business committees and government advisers.
Chu’s exploration comes as in China for a long time anti-corruption campaign It only gets worse when Xi wants to get a third time.
A search of at least 27 senior officials and officials was announced since the fourth quarter of last year, according to information provided by the Central Commission for Discipline Inspection of the Communist Party. Among them are former officials at the central bank, the People’s Bank of China, as well as Chinese state-owned banks, oil companies and insurance companies.
Chu’s investigation also raises hopes that China’s tobacco trade may be affected by strict regulations and oversight as part of Xi “well ordinary”To drive.
List of policy and regulatory violations business, culture and bad last year erased billions of dollars at the cost of Chinese companies – and personal wealth many of his tycoons.
Investors were already funny on China’s potential as the world’s largest market. But speculation has been hampered by Chinese media reports of the proliferation of e-cigarettes in children, with officials deciding to bring higher taxes on the profession.
Additional reports from Maiqi Ding and Sun Yu in Beijing
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