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Former official confesses breaking rules on shares

By Leeann Li   (Shanghai Daily)

08:40, March 26, 2013

A former health official in Shaanxi Province has admitted he broke the rules on share ownership after a whistleblower revealed details of his teenage son's shares.

Wang Weimin, former Party chief in the Sanyuan County Health Bureau, denied the whistleblower's claims that his son, Wang Xianwen, had three household registrations but admitted the boy owned shares in a local company.

According to yesterday's China Business View newspaper, the whistleblower said the boy, born in 1996 according to the registrations, owned 1 million yuan (US$161,000) of stock in a local grain and oil logistics company called Tiansi.

His father told the newspaper that the boy did have a number of shares in a local company, but didn't confirm the name.

However, of the three household registrations, only one is related to his son.

Referring to another of the whistleblower's accusations, Wang Weimin admitted he broke the rules by holding 1 million yuan of shares in the Xinyuan Flour Co Ltd, a former state-owned factory based in the county, in 2011.

He admitted violating a regulation that government officials can't have shares in enterprises. But he told the newspaper he had transferred the shares from a company shareholder to his own account when the man was sick, and later returned the shares.

Wang Weimin ended his tenure as Party chief in July 2012.

There has been no comment from Shaanxi provincial authorities or the health bureau.

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Email|Print|Comments(Editor:GaoYinan、Chen Lidan)

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