☰

Empresas y finanzas

Former head of China FAW Group Corp expelled from Communist Party


    BEIJING (Reuters) - Chinese authorities have expelled the former chairman of state-owned China FAW Group Corp. from the ruling Communist Party, an anti-graft agency said on Thursday.

    Xu Jianyi, the former chairman, embezzled funds, took bribes and improperly advanced the career of his son, the party's top anti-corruption commission said.

    China FAW is one of China's top state-owned automakers, and has joint ventures with Volkswagen, Toyota and General Motors in China.

    Xu came under investigation in March, the commission said.

    (Reporting By Megha Rajagopalan; Editing by Robert Birsel)