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A retired senior military official in Zhejiang province has been placed under investigation [url=http://www.panthersfanaticproshop.com/daeshon-hall-panthers-jersey/]Daeshon Hall Jersey[/url] , news magazine Caixin reported on Tuesday.
Fu Yi, 62, former commander of the Zhejiang Military Area Command, was taken away by military authorities for investigation earlier this year, the report said.
It was not known whether Fu's case is related to the one involving Guo Zhenggang [url=http://www.panthersfanaticproshop.com/taylor-moton-panthers-jersey/]Taylor Moton Jersey[/url] , deputy political commissar of the Zhejiang command and the son of a retired former vice-chairman of the Central Military Commission, the country's top military body, the report said.
Guo was placed under investigation in February for suspected violations of law involving a family land development business in Hangzhou that stirred repeated protests from local investors, according to media reports.
Creditors began gathering in front of the Zhejiang Military Command in Hangzhou in 2012 to demand that Guo repay money they claimed to have invested in two shopping malls operated by Wu Fangfang, Guo's second wife. The malls were built on land owned by the military.
Wu acquired rights to develop the two shopping malls in 2007 and 2008 and attracted a large amount of capital from investors by promising them high profits. But he allegedly failed to honor his promises [url=http://www.panthersfanaticproshop.com/curtis-samuel-panthers-jersey/]Curtis Samuel Jersey[/url] , as business in the two projects was gloomy.
Both Wu and Guo were detained in February for investigation, Caixin reported.
Some senior officials in Zhejiang were found to have meddled with land and property development for profit, Ji Lin, an official with the Central Commission for Discipline Inspection, China's top anti-graft body [url=http://www.panthersfanaticproshop.com/christian-mccaffrey-panthers-jersey/]Christian McCaffrey Jersey[/url] , said in November after a team sent by the commission inspected the province.
Wu and Guo visited Liquan county in Shaanxi province a few years ago with a fortuneteller to inspect Guo's former residence and family grave site. The psychic was supposed to tell the fortune of Guo's father, according to a report in Phoenix Weekly, and assured them Guo's father would have luck and be spared disaster.
China's military authorities announced earlier this month that 14 high-ranking military officials have been placed under investigation, bringing the total number suspected of corruption to 30 since the beginning of last year.
Chinese enterprises with global ambitions scrambled to purchase overseas businesses and assets last year, as momentum in the domestic real economy continued to be sluggish.
Latest figures in a report issued Thursday by PricewaterhouseCoopers (PwC) show that overseas mergers and acquisitions (M&A) by Chinese enterprises surged by 246 percent in 2016.
The year of 2016 saw record levels of activity for China mergers and acquisitions [url=http://www.panthersfanaticproshop.com/donte-jackson-panthers-jersey/]Donte Jackson Jersey[/url] , in terms of both the number of transactions and value. The growth in the number of transactions was largely driven by financial buyer activity and a jump in outbound M&A, said the report.
In value terms, China's outbound M&A grew by an astounding 246 percent - nearly 3.5 times the number of 2015. There were 51 outbound transactions valued at over $1 billion - more than double the previous record.
The trend highlights a transformation in the country's development model from export-driven to investment-driven, Dong Dengxin, director of the Finance and Securities Institute at Wuhan University of Science and Technology [url=http://www.panthersfanaticproshop.com/dj-moore-panthers-jersey/]DJ Moore Jersey[/url] , told the Global Times.
One of the reasons behind the surging numbers of outbound M&A deals is the absence of domestic projects with a great potential for growth, experts said.
"China's real economy was plagued by overcapacity in almost every sector in 2016, showing signs of an investment opportunity crunch. Yet on the other side, there is an oversupply of domestic capital," Dong said.
In 2016 [url=http://www.panthersfanaticproshop.com/]Cheap Carolina Panthers Jerseys[/url] , China's overheating property market might have been a good investment option, but it also raised concerns over asset bubbles, Dong noted.
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