China prosecutors to arrest former China Huarong Asset Management chairman

Lai Xiaomin, former party boss and chairman of one of China's largest financial asset management firms, has been under investigation since April.
Lai Xiaomin, former party boss and chairman of one of China's largest financial asset management firms, has been under investigation since April.PHOTO: REUTERS

BEIJING (REUTERS) - Chinese prosecutors will arrest former China Huarong Asset Management Co Ltd chairman Lai Xiaomin, the official Xinhua news agency reported on Wednesday (Nov 7).

The report did not provide further details, including what he may be charged with.

Lai, former party boss and chairman of one of China's largest financial asset management firms, has been under investigation since April.