China: Jailed Communist Party critic Ren Zhiqiang abused power at firm: state media

Chinese state media has published details of the corruption case of former real estate tycoon Ren Zhiqiang, a vocal critic of the Communist Party leadership after observers described his sentencing as politically motivated.

An article posted from a social media account run by Beijing Daily accused Ren – last month sentenced to 18 years in prison on corruption charges – of colluding with his son in corruption involving 220 million yuan (US$33 million). “[Ren] was most famously known as a property tycoon, but the public does not know who he really is,” said the article, published on Sunday night.

Referring to the state-controlled property developer Huayuan Real Estate Group, which Ren headed before retiring in 2014, it continued: “Ren’s domination in Huayuan in the past decade and more has given him convenience in graft, taking bribes, misusing public funds and abusing his power, which led to financial losses in the state-controlled company.”

The original full article can be found at scmp.com

(Photo: EPA)

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