Former Grand China Shipping exec gets seven years for corruption

Former Grand China Shipping exec gets seven years for corruption

Shanghai: Haikou Intermediate People’s Court has announced that it has sentenced Liu Xudong, former vice general manager of the defunct HNA-affiliated Grand China Shipping, to seven years in jail for corruption.

Liu was charged for taking bribes of RMB2.96m ($476.8k) from shipbrokers in several major deals involving the company.

Liu was dismissed by HNA Group in 2012 as a punishment for the serious losses posted by Grand China Shipping, which was liquidated by a Hong Kong court in 2013.

Jia Hongxiang, former president of Grand China Logistics, has also been under investigations by authorities since November 2014 for corruption activities.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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