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Chiefs of Official Website of People’s Daily Arrested

On August 28, South China Morning Post reported that the CEO and the Deputy CEO of the People.CN website had been arrested for corruption investigations. People.CN is the official website of People’s Daily, which is the primary newspaper that speaks on behalf of the Communist Party. Several Mainland news channels also reported the event before the Supreme People’s Procuratorate issued the official announcement. For a period of time, this news was blocked from all Chinese news websites. People.CN is a publicly traded company. On the afternoon of August 25, the Shanghai Stock Exchange suspended its stock. According to the Supreme Procuratorate, the Henan Provincial People’s Procuratorate conducted the arrests and the investigations. The investigations are still underway. People’s Daily, as the controlling stockholder, has already nominated a new Board member for People.CN.
Source: South China Morning Post, August 28, 2015