(Beijing Comprehensive News) Ren Jianxin, former chairman of China Chemical Group, who has traded China's largest overseas mergers and acquisitions, and Yang Xingqiang, deputy and former general manager of China Chemical Group, was investigated.
According to the news released by the website of the State Supervision Commission of the Central Committee of the Communist Party of China on Saturday (May 11), Ren Jianxin and Yang Xingqiang, former general manager of China Chemical Industry Group, are suspected of serious disciplinary violations.Disciplinary Inspection and Supervision Group of the State Council and disciplinary review and supervision investigation of the Zhejiang Provincial Supervision Commission.
66 -year -old Ren Jianxin is known as the "M & A King".Caixin.com quoted people close to Ren Jianxin, describing that he was once "the head of the central enterprise of private entrepreneurs"; he was good at using contact resources and capital operations;The style of drying and gambling is also very arbitrary in the internal decision -making and management of the enterprise.
Ren Jianxin founded the Blue Star Cleaning of Industrial Cleaning Company in the 1980s. In the late 1990s, he acquired a large number of state -owned chemical enterprises.In 2014, China Chemical Establishing Board of Directors, Ren Jianxin served as chairman.
During the Chinese chemical industry, Ren Jianxin launched many overseas mergers and acquisitions to expand the business sector. The most famous is the acquisition of Swiss agricultural chemical and seed giants in 2017.
According to Caixin.com, the acquisition process of the "snake swallowing" type of "Snake Elephant" was twists and turns, and the total cost of spent nearly 50 billion US dollars.
This mergers and acquisitions are the largest overseas mergers and acquisitions in China so far, but because Chinese chemicals have borrowed too high in mergers and acquisitions, it has also caused great controversy.The next year when the Shengzhengda acquisition was completed, Ren Jianxin retired at the age of 60.
Yang Xingqiang, who was reported on the same day with Ren Jianxin, was 56 years old, who has followed Ren Jianxin for many years.
In June 2007, Yang Xingqiang was the assistant to the general manager of China Chemical Industry and the general manager of the Chinese Blue Star (Group) Corporation and Secretary of the Party Committee;Group) General Manager and Secretary of the Party Committee.
Yang Xingqiang served as Deputy Secretary, Director and Manager of the Chinese Chemical Party Committee in March 2018; in May 2021, he was transferred to the Deputy Secretary, Director and General Manager of the Party Committee of China Salt Industry Group.
