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Nuclear official allegedly involved in 1.8b yuan corruption case
(chinadaily.com.cn)
Updated: 2009-08-07 17:19

Kang Rixin, the general manager of the China National Nuclear Corporation (CNNC), is allegedly involved in a 1.8 billion yuan (US$260 million) corruption case, people.com.cn, the website of the People’s Daily reported Friday.

Kang is now in police custody in Beijing and officially under investigation for "grave violations of discipline", the China Daily reported yesterday.

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An insider said there are two main accusations against Kang: appropriating public money to buy stocks, and interfering the bidding results of nuclear power projects. In addition, according to an anonymous CNNC staffer, Kang may also have taken illegal money from the company’s main projects.

The CNNC is responsible for China's nuclear weapons, power production, and managing the country’s nuclear waste disposal facilities, according to the company's website. It made a profit of 4.8 billion yuan ($705 million) last year.

China plans to build five nuclear power stations this year to reduce the country's reliance on coal and oil.

Kang had been the corporation's general manager and Party secretary since September 2003. He was named among the "Top Ten Talent Managers of China" in 2007.