China Everbright Group Chairman will be arrested

<p>Earlier this week Li Xiaopeng, former party chief and chairman of China Everbright Group, was expelled from the Chinese Communist Party (CCP) and his post.</p><p>Reasons cited were severe violations of party discipline and Chinese laws including accepting bribery, illegally holding stakes in non-listed companies, and power abuse.</p><p>The talk is now he is to be arrested. </p><p>China Everbright Group is a Chinese state-owned enterprise. Everbright Group was a subsidiary of Central Huijin Investment. The Ministry of Finance of China owned the rest of the stake, which Central Huijin acquired on 8 December 2014. </p><p>It has a listed company in Hong Kong with asset management and investment as its core business.</p>

This article was written by Eamonn Sheridan at www.forexlive.com.