The party secretary of Hangzhou, Zhou Jiangyong, was placed under investigation on Saturday, while reports on his arrest being linked to Alibaba’s financial affiliate, Ant Group, have been denied. “The Chinese Communist Party (CCP) boss of Hangzhou Zhou Jiangyong is suspected of seriously violating discipline and laws, and is under investigation and inspection,” the Central Commission for Discipline Inspection (CCDI), announced on Saturday night. No further details were released by the CCDI. Hangzhou is the capital city of eastern China’s Zhejiang Province. It’s also the base for Ant Group. Hours after the arrest, Taiwanese semi-official Central News Agency (CNA) reported that Zhou, and two other recently surrendered Zhejiang senior officials, might have been involved in Ant Group’s failed IPOs in Hong Kong and Shanghai stock exchanges. On Sunday, Ant Group denied the accusation and stated that it would file law suits against those behind the claim. However, Yin Ke, an Australia-based former director assistant …
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