Chinese mayor investigated for corruption in connection to Shanshui Cement

Print this page

China: Yang Luyu, the mayor of Jinan in Shangdong province, is being investigated for corruption by the Communist Party of China Central Commission for Discipline Inspection (CCDI). Yang has been accused of ‘serious disciplinary violations’ according to Xinhua news agency. He is also the city's Communist Party deputy secretary.

Yang was named in a writ filed with a Hong Kong court in March 2016 according to the South China Morning Post. Two companies, China Pioneer Cement (Hong Kong) and Shandong Shanshui Cement Group, allege that Yang and his deputy mayor, Su Shuwei, conspired with former company directors to take control of the Jinan plant on 7 December 2016. The ex-directors were named as Zhang Caikui and his son Zhang Bin.

China Pioneer Cement (Hong Kong) and Shandong Shanshui Cement Group are subsidiaries of China Shanshui Cement Group. Shanshui Cement has faced financial troubles since a battle for control of the company that took place in late 2015 between Tianrui Cement, its biggest shareholder, and the Zhang family, its second-largest shareholder and former owners.

Last modified on 07 April 2016


© 2020 Pro Global Media Ltd. All rights reserved.