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China Jinmao's HK office ensnared in corruption probe

Published Wed, Oct 25, 2017 · 09:50 PM
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Shanghai

CHINESE state-backed developer China Jinmao Holdings Group said its Hong Kong office was searched in a corruption probe.

The company's shares fell as much as 3.3 per cent in Hong Kong on Wednesday and JPMorgan Chase downgraded the stock.

Jinmao and its units are not the subject of the investigation, the company said in a filing to Hong Kong's stock exchange, adding that chief financial officer Jiang Nan was asked to visit the Independent Co…

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