24 December 2014.
Chinese authorities arrested Mr. Sun Zhaoxue, former general manager of Aluminium Corp of China (Chinalco). He was accused of soliciting and accepting bribes and adultery. He was also Vice-Chainman of Chinalco’s listed subsidiary Aluminium Corp. of China (Chalco). Before assuming office in Chinalco, He was the General Manager of China National Gold Group, the country’s biggest gold producer.
The CPC Central Commission for Discipline Inspection (CCDI) said the Mr Sun has been expelled from the party and public office following its investigation into the bribery allegations.
Aluminium Corp of China has appointed mayor of Chendu, Ge Honglin, as its Chairman, replacing Xiong Weiping whose 5 year term ends with a top executive embroiled in bribery. Ge Honglin has been out of the industry for more than a decade after he became a full time politician. He was last in the steel industry. Xiong Weiping takes up a post in the commission supervising state assets.
During the first half of this year Chalco posted a loss $673 million.
President Xi Jinping’s crackdown on corruption has also snared Ling Jihua, long-time senior aide to former president Hu Jintao. Ling is associated with Communist Youth League faction, which considers Hu Jintao as its spiritual leader. CYL faction has been side-lined since Hu’s retirement in 2012. President Xi views CYL faction as a potential threat to his power. He will no doubt put his own men in key positions in the next party elections in 2017. Taking Ling down would need some compromise between Hu and Xi.
Ling’s misfortune started with his son’s death in a car crash in March 2012. His son, Ling Gu, was driving a Ferrari with two young women when he met with the accident. This accident exposed the luxury life led by the CCP officials and their families. Ling Had allegedly covered up the car crash by paying off the women’s families to secure their silence. His career prospects were doomed. He was demoted and appointed as the head of United Front Work department which handles relations with China’s ethnic minorities and Taiwan. He was also appointed as the vice-chairman of a political advisory body last year. At the time of the car crash, Ling was the chief of the Communist Party’s Central Committee General Office, a position that should have secured him a place in the Politburo under the following president.
His final blow is expected on the completion of bribery investigations of his two brothers – politician Zhenggce and businessman Wancheng. Observers say that bringing Ling to a public trial may result in implication of his former bosses.