Shi Zhengrong, founder of Suntech Power Holdings (STP) Co. Ltd. and an Australian citizen, has been barred from leaving China along with the company’s chief executive officer, David King, while authorities investigate the state of the company’s finances.
Immigration officials have been instructed to temporarily prevent Shi, who was once China’s richest man, from venturing outside China following Suntech’s bankruptcy, the Shanghai Securities News said March 22, citing people it didn’t identify.
E-mail and phone requests for comment to Australia’s Department of Foreign Affairs and Trade weren’t immediately answered. The Chinese foreign ministry in Beijing didn’t immediately respond to faxed questions. Suntech officials declined to comment.
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Jason Scott and Feifei Shen, Bloomberg News via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/T-OP_FAOUWc/
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