Wang Shuaiting

Wang Shuaijing (born October 1955, Feng County, Xuzhou, Jiangsu) is a Chinese businessman and former executive.

Biography

Wang graduated from Xuzhou Normal College (now Jiangsu Normal University) in 1982, and later completed an EMBA at China Europe International Business School. He began working in September 1982, successively serving as Deputy Director of the Office of the Xuzhou Prefecture Administrative Office and the Economic Commission of Xuzhou City (1985), Deputy Director of the Xuzhou Municipal Government Office, and Deputy Secretary-General of the government (1991). In 1994, he became General Manager of Xuzhou China Resources Power Co., Ltd., and in 2001, was appointed Director and General Manager of China Resources Power. In 2002, he became a Director, Assistant General Manager, and Deputy General Manager of China Resources Group, concurrently serving as Vice Chairman and CEO of the Board of Directors of China Resources Power. After 2009, he served as Vice Chairman and Deputy General Manager of China Resources Group, concurrently Chairman and CEO of China Resources Power. In April 2011, he was appointed Vice Chairman and General Manager of Hong Kong China Travel Service Group.

On May 16, 2014, Wang was investigated by the Central Commission for Discipline Inspection for serious violations of discipline and law during his tenure at China Resources Group. After his fall from grace, Jiang Yan, then Director and Deputy General Manager of the Hong Kong China Travel Service Group, took over as General Manager on August 25.

On September 11, 2015, he was expelled from the Chinese Communist Party and handed over to judicial authorities. On September 26, 2016, the Supreme People's Procuratorate announced that Wang, the former Deputy Secretary of the Party Committee, Vice Chairman, and General Manager of the Hong Kong China Travel Service (Group) Co., Ltd., was suspected of bribery and embezzlement. His case was transferred to the Shenzhen Municipal People's Procuratorate for review and prosecution. The procuratorate filed charges with the Shenzhen Intermediate People's Court.

According to the trial, from 2003 to 2013, Wang took advantage of his positions as Party Secretary, Vice Chairman of the Board, Chairman of the Board, and President of China Resources Power Holdings Co., Ltd. to assist relevant entities and individuals in investment shareholding, equity transfer, and job promotions, illegally accepting a total of RMB 40,088,337 in property. From 2006 to 2011, he illegally obtained bonuses from thermal power project developments 11 times, embezzling RMB 7,086,375 from China Resources Power project companies.

On February 28, 2017, the Shenzhen Intermediate People's Court publicly sentenced Wang Shuaijing for bribery and embezzlement. He was sentenced to nine years in prison for bribery and fined RMB 400,000; and ten years in prison for embezzlement and fined RMB 800,000. He was ordered to serve a combined sentence of sixteen years in prison and fined a total of RMB 1.2 million. Bribe money and goods seized during the investigation were confiscated and turned over to the national treasury; embezzled funds were returned to the victimized company.