Beijing Capital Group’s general manager held – Richard McGregor

From the Financial Times:

The head of one of the Beijing city government’s largest and most powerful companies has been detained on suspicion of in a scandal that has already toppled one senior official in the capital.

is the general manager of the state-owned Beijing Capital Group and also the chairman of its Hong Kong-listed arm, the shares of which were suspended from trading yesterday.

Mr Liu has been held under a form of administrative detention used during the investigation of senior Communist party officials and as yet has neither been charged nor found guilty of any offences. Officials held under such rules have been known to return to work if they are cleared of any wrongdoing, although this happens infrequently.

[Full text]

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