China opens graft probe against senior exec of Nissan auto JV

China's anti-corruption watchdog today launched an investigation concerning a senior executive of a state-owned car company which is a joint venture partner of Japanese auto major Nissan.
The Central Commission for Discipline Inspection (CCDI) of the Communist Party of China said in a statement that Ren Yong, assistant general manager of Dongfeng Motor Corporation (DMC), is suspected of "serious law and discipline violations".
Ren is also vice president of Dongfeng Motor Company Limited, a joint venture between Dongfeng and Nissan.
Nissan formed a new joint venture with Dongfeng in September to produce Infiniti cars in China.
Ren is among the first heads to roll since the CCDI launched a third round of inspections into state-owned enterprises in November.

Other targets include China Petrochemical Corporation (Sinopec Group), China Southern Airlines and China Unicom.

Also as a part of the current round of corruption campaign, some 63,000 government officials, including 229 at provincial and ministerial-level were forced to quit company directorships they held.
The Organization Department of the Communist Party's Central Committee said in a statement that 226 of the ministerial-level officials have completed their resignations procedures and the remaining three are expected to quit by next February.
The statement said follow-up work, including rigid supervision and regular inspection will be carried out to prevent a resurgence of government officials doing part time jobs at companies, state-run Xinhua news agency reported.

The department banned incumbent officials' employment in private companies in October, 2013 to reduce the chances of corruption.
The ban reportedly brought about a mass exodus of independent directors from listed Chinese companies, the report said.