Shandong LGFV Boss Swept Up in Intensifying Graft Crackdown

The anti-corruption crackdown sweeping China’s local government financing vehicles (LGFVs) ensnared Yin Peng, chairman and Communist Party head of Shandong Guohui Investment Co. Ltd.

At least eight other senior executives at financing vehicles backed by provincial governments have been brought down in the graft probe over the past two months as the country steps up efforts to defuse local debt risks, Caixin learned. The managers from investment companies backed by provincial governments in Hunan, Guizhou, Guangdong and Jilin, among others, have been investigated on corruption allegations.