Suchou park collapsing soon?

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Bai Guizhi, ex-head of Suzhou Industrial Park, probed for graft

The case of Bai Guizhi, who led a development zone with assets of 20 billion yuan, may be related to inquiry into top ex-Nanjing official

The former president of a China-Singapore venture which held assets of 20 billion yuan (HK$25 billion) was under investigation for suspected corruption, the authorities said yesterday.

Bai Guizhi, who until a few days ago headed the China-Singapore Suzhou Industrial Park Development Group (CSSD) and is deputy secretary of its party committee, "seriously violated discipline" - usually a euphemism for graft - according to the Jiangsu provincial discipline inspection authority.

Bai was promoted "not long ago" to chief of the CSSD, which is mainly involved in property development projects, urban infrastructure contracts and overseas investment.

There were other investigations targeting former members of the group's party committee, an anonymous source told the South China Morning Post.

A CSSD official said Bai was implicated in the investigation of Feng Yajun , formerly a member of the standing committee of the Nanjing party committee, according to the 21st Century Business Herald. Nanjing is the capital of Jiangsu.

"They have a common briber," the unnamed official was quoted as saying.

The group issued a circular announcing Bai's dismissal several days ago, the report said.

Feng was hauled away by discipline officials last week.

The CSSD is in the process of acquiring a stock exchange listing. The company's revenue exceeded 5 billion yuan, with a net profit of 630 million yuan, in 2012.

Bai has worked with real estate firms and hotels in Suzhou, and elsewhere in Jiangsu. He has a master's degree in engineering management from Zhengzhou University.

The group was originally part of the China-Singapore Suzhou Industrial Park project, which was launched in 1994.

CSSD operates more than 40 subsidiaries and employs nearly 3,000 people. Besides the 80 sq km Suzhou industrial park, the group has invested in five other industrial parks in Jiangsu.

The last known account mentioning Bai as the group's president was at the end of July, when People.com.cn the website of the official People's Daily newspaper, reported on his visit to Anhui province to discuss a park cooperation deal with Chuzhou city's party chief.

Six members of the present Politburo Standing Committee, including President Xi Jinping and Premier Li Keqiang , have visited the Suzhou industrial park, according to the group's website.

Over the past few days, a string of officials have been taken away for investigation in Jiangsu, an economic powerhouse on the eastern seaboard, including Lianyungang party chief Li Qiang on Wednesday.

Lou Xuequan , former party boss of Liuhe district in Nanjing, hanged himself at home this week after being dismissed from the party amid a corruption investigation.


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