NEWS CENTER

CR Responds to Real-name Report by Senior Officials: Welcome to Provide Clues to Superiors


Release time:

Jul 18,2013

China News Service, July 17th. On the afternoon of July 17, China Resources Group issued a statement in response to the company's senior executives being reported by Wang Wenzhi, chief reporter of the Economic Information Daily, saying that there were "many speculations, conjectures and even malicious defamation in the report.", And said that "welcome to provide the company and higher-level regulatory agencies with factual basis for reporting clues, the Company also reserves the right to pursue legal liability and recover economic losses for all words and deeds that slander or slander the Company's reputation". The following is the full text of the statement. China Resources (Group) Co., Ltd. declares that the company has noticed that there have been recent reports from online media and institutions on the company.

China News Service, July 17th. On the afternoon of July 17, China Resources Group issued a statement in response to the company's senior executives being reported by Wang Wenzhi, chief reporter of the Economic Information Daily, saying that there were "many speculations, conjectures and even malicious defamation in the report.", And said that "welcome to provide the company and higher-level regulatory agencies with factual basis for reporting clues, the Company also reserves the right to pursue legal liability and recover economic losses for all words and deeds that slander or slander the Company's reputation".

The following is the full text of the statement

Statement by China Resources (Group) Limited

The company has noticed that recently, online media and institutional people have published a series of reports, comments and so-called real-name reports on an acquisition transaction of a subsidiary of the company. Many of these speculations, conjectures and even malicious defamation have caused the company and its leaders. The reputation has a negative impact.

The company hereby solemnly declares: As a key state-owned backbone enterprise directly supervised by the State-owned Assets Supervision and Administration Commission of the State Council and a Chinese-funded enterprise in Hong Kong, the company has always adhered to the core value of "integrity-based" and operated in strict accordance with national laws, regulations and rules. All operation and management activities are based on the interests of shareholders and the public. If the media and people from all walks of life find that there is corruption and fraud in the acquisition transaction, the company welcomes to provide the company and its superior regulatory authorities with factual reporting clues. The company also reserves the right to pursue legal liability and recover economic losses for all words and deeds that slander or slander the company's reputation.

I hereby declare!

China Resources (Group) Limited

17 July 2013

A reporter from the Beijing News connected to Wang Wenzhi, chief reporter of Xinhua News Agency's "Economic Information Daily". Wang Wenzhi said that the content of the real-name report was indeed sent by him, and the content of the report was true. He hoped that the relevant departments would investigate the content of the report in a timely manner.

Beijing News: How did the clues come before the real-name report of "deputy ministerial-level central enterprise executives suspected of corruption?

Wang Wenzhi: at the beginning of this year, I found that some media were paying attention to this matter, and some people mailed me some reporting materials. I looked at the data and found that this was a "thing", so I started to investigate.

Beijing News: How much time did it take to investigate?

Wang Wenzhi: From receiving clues to releasing real-name report information, I spent nearly half a year on field investigations in Shanxi three or four times and obtained a lot of evidence.

Beijing News: Why do you want to report under your real name, not afraid of persecution?

Wang Wenzhi: Many friends called me today and asked me: Are you still safe? I am very touched. At least for now, I'm safe. Before the real-name report, I considered that I might be persecuted, but I want to do justice, and I am not afraid.

Beijing News: This acquisition may be a collective resolution of the board of directors of China Resources Group. Why did you report that Song Lin, chairman of China Resources Group, was suspected of huge corruption?

Wang Wenzhi: In this huge acquisition, Song Lin and other executives 100 percent have problems. At least he's malpractice. Song Lin's personal opinions played a big role, including the late violation of early payment and so on, which violated the acquisition agreement. I have evidence that the payment process was completed under Song Lin's instructions.

Beijing News: Maybe the acquisition is just a failed investment behavior of China Resources Group?

Wang Wenzhi: Failed investment behavior is understandable, but there should be strict procedures for investment behavior. The acquisition violated many rules. For example, when acquiring the assets of "Jinye Group", according to the regulations, China Resources should entrust an evaluation agency to carry out, but the reality is that the evaluation of the physical assets of the original coal mine is carried out by the agency entrusted by the acquired party.

Beijing News: on Weibo, some people support you, while others think you are hyping yourself. What do you think?

Wang Wenzhi: I don't think this is hype. From the beginning of receiving clues to interviews, to real-name reports, it is a very simple idea. I think this is what I should do.

In the interview, I found that Song Lin and other executives have big problems. Through my real-name report, I can attract more people's attention, let more people know the truth, and let relevant departments intervene in the investigation.

Beijing News: After the real name report, what is the most hopeful thing at present? Wang

Wang Wenzhi: I hope that the Commission for Discipline Inspection, the National Audit Office and other relevant departments will promptly intervene in the investigation in accordance with the law to find out the truth. I hope the truth comes out soon.

News review: Xinhua News Agency reporter real name report China Resources chairman suspected of huge corruption

People's Daily Online, Beijing, July 17 (Da Yuqi, Jia Xingpeng) At 1:34 a.m. today, Wang Wenzhi, chief reporter of Xinhua News Agency's "Economic Information Daily", reported on his Weibo real name that China Resources Group Chairman Song Lin (deputy ministerial level) and other company executives were suspected of transferring benefits in the acquisition of Shanxi's gold industry assets, resulting in the loss of billions of state-owned assets. Wang Wenzhi said that the behavior of Song Lin and others has constituted dereliction of duty and is suspected of huge corruption.

A financial reporter from People's Daily Online contacted the whistleblower Wang Wenzhi at the first time. Wang Wenzhi said: "The relevant materials were submitted to the official reporting website of the Central Commission for Discipline Inspection last night." He also said that after the real name report on Weibo, many friends expressed concern about their personal safety. "There is no threat to personal safety at this time." Wang Wenzhi said.

Wang Wenzhi stated in his report that in 2010, China Resources Power, a subsidiary of China Resources Group, acquired 80% of the equity of 10 asset packages owned by Shanxi Gold Industry Group for a consideration of 10 billion yuan. China Resources Power did not fully disclose the transaction during the acquisition process. There were serious problems in the evaluation of the transaction and illegal early payment of the acquisition, resulting in the loss of billions of state assets.

People's network financial reporter also contacted the person in charge of China Resources Group surnamed Li. After the reporter indicated his identity and explained his intention to interview, the person in charge immediately hung up the phone, and as of press time, the other party had not replied.

Later, the reporter contacted the Shenzhen office of China Resources Group. The wiring staff said that they did not understand the matter, and Song Lin, chairman of China Resources Group, worked in Hong Kong.

In response, the reporter called the Central Commission for Discipline Inspection. The relevant staff of the Ministry of Supervision said that it is not clear whether to receive the report, because there are many staff who accept the report, and the report information is confidential. As for the report, the staff member said that after receiving the report, it would be transferred to the relevant departments for investigation. (People's Network-Financial Channel)

Related reports:

Wang Wenzhi stated on Weibo that in 2010, China Resources Power, a subsidiary of China Resources Group, purchased 80% of the 10 asset packages of Shanxi Gold Industry Group for a consideration of 10 billion yuan, but the transaction was not fully disclosed. According to Wang Wenzhi's investigation, there were serious problems in the evaluation of the transaction, and the purchase payment was paid in advance in violation of regulations, resulting in the loss of billions of yuan of state-owned assets. After China Resources Power acquired the assets of Jinye Group, the main assets fell into a state of serious losses, and one of the coal mines, Hongyatou Coal Mine, became a stocking site for local farmers. (Qin Tao)

Resume of Song Lin:

Song Lin (1963 (Guimao year)-), a member of the Communist Party of China. Bachelor of Engineering Mechanics, Solid Mechanics, Tongji University. Shandong Rushan people.

In 2012, he was elected to the 18th National Congress of the Communist Party of China. He is also the chairman of the Hong Kong Chinese Enterprises Association, an independent non-executive director of Geely Automobile Holdings Co., Ltd., and a non-executive director of Bank of East Asia (China) Co., Ltd.

China Reform Person of the Year 2012.

On July 1, 2013, appointed by the Hong Kong Special Administrative Region Government, Chairman Song Lin of the Group was appointed Justice of the Peace (administratively known as "Non-official Gentleman")

He joined China Resources Group in 1985 and served as manager, senior manager, assistant general manager and deputy general manager of China Resources Petrochemical in Hong Kong; director, general manager of enterprise development department of China Resources Group Co., Ltd. and chairman of China Resources Investment and Development Company.

Since 2004, he has been the general manager of China Resources (Group) Co., Ltd.

Since May 2008, he has served as the chairman of China Resources (Group) Co., Ltd., and concurrently as the chairman of China Resources Power Holdings Co., Ltd. and China Resources Microelectronics Co., Ltd.; vice chairman of the board of directors of Vanke Enterprise Co., Ltd., and independent non-executive director of Geely Automobile Holdings Co., Ltd. Resigned as Chairman of China Resources Power Holdings Limited in 2011.

"Fortune" 2012 China's 50 most influential business leaders list, Song Lin is on the list, ranking 20th.

China Resources Group:

It has 7 strategic business units, 21 first-level profit centers, more than 1,200 physical enterprises and 350000 employees. China Resources has five listed companies in Hong Kong. Among them, China Resources Venture, China Resources Power and China Resources Land are among the constituent stocks of Hong Kong's Hang Seng Index, becoming the "blue chip three" under China Resources ". China Resources Group is one of the world's top 500 enterprises. On July 9, 2012, the 2012 Fortune Global 500 list was officially released. China Resources ranked 233 with a turnover of 43.4 billion US dollars, up 113 places from 2011, and entered the top 250 of the world's top 500. On July 8, 2013, the Fortune 500 list was officially released. China Resources ranked 187 with a turnover of 52.4482 billion US dollars, up 46 places from 2012.

It has 7 strategic business units, 21 first-level profit centers, more than 1,200 physical enterprises and 350000 employees. China Resources has five listed companies in Hong Kong. Among them, China Resources Venture, China Resources Power and China Resources Land are among the constituent stocks of Hong Kong's Hang Seng Index, becoming the "blue chip three" under China Resources ". China Resources Group is one of the world's top 500 enterprises. On July 9, 2012, the 2012 Fortune Global 500 list was officially released. China Resources ranked 233 with a turnover of 43.4 billion US dollars, up 113 places from 2011, and entered the top 250 of the world's top 500. On July 8, 2013, the Fortune 500 list was officially released. China Resources ranked 187 with a turnover of 52.4482 billion US dollars, up 46 places from 2012.