Wu Wenying, the former chairman of the China National Textile Council (CNTC), has been punished because she used her power to help her son make profit illegally, the Central Commission for Discipline Inspection (CCDI) of the Communist Party of China (CPC) Central Committee said Monday.
In a report on the investigation of Wu's case, the CCDI announced that it has placed Wu on probation within the Party for two years, and suggested that the National Committee of the Chinese People's Political Consultative Conference (CPPCC) strip her membership through legal procedures.
According to the CCDI, in March of 1996, Wu helped recommend a company in central China's Hubei Province to go public by using her chairmanship of the CNTC at the request of Tong Shijian, general manager of the firm.
In the middle of that same month, Tong told Wu that she could buy stocks from his company. Later that month, with Wu's help, her son purchased 100,000 staff shares of the company through Tong.
After the company was listed, Wu's son, surnamed Lu, earned more than 890,000 yuan in profit from selling the stocks. Upon discovering that the matter was under investigation, Wu told her son to return all the money.
A CCDI official pointed out that Wu abused her power to help her son make huge profits, which seriously violated the disciplines of the Party.
(Xinhua 10/16/2000)
