Xu Zuo, deputy general manager of CITIC Group, resigned from his post. On June 9, the website of the Central Commission for Discipline Inspection and the National Supervisory Commission announced that Xu Zuo, a member of the Party Committee and Deputy General Manager of CITIC Gro

Xu Zuo, deputy general manager of CITIC Group, resigned from his post.

Xu Zuo is 59 years old and has worked for CITIC Group for a long time. He was promoted step by step from an inspector of a subsidiary company of the group to a senior executive of a subsidiary company of the group, and served as the general manager, vice chairman and chairman of CITIC Dicastal Co., Ltd.

In 2016, Xu Zuo served as assistant to the general manager of CITIC Group. In 2019, he was appointed as deputy general manager of CITIC Group. He has been in office until now.

According to data, CITIC Group has been on the Fortune 500 list for 15 consecutive years, ranking 100th in 2023.

attended a work meeting one month ago

Xu Zuo attended a work meeting more than a month ago.

CITIC Group’s official website shows that on April 28 this year, the 2023 annual meeting of the CITIC Group Board of Directors was held at CITIC Tower in Beijing. Xu Zuo, deputy general manager of the group, attended the meeting. Before that, he continued to participate in activities as usual.

Xu Zuo was born in Dawu, Hubei in 1965. He graduated from Kunming Institute of Technology (now Kunming University of Science and Technology) majoring in metallurgy and heat treatment at the age of 22. At that time, he was assigned to work at CITIC Bohai Aluminum Company. Not long after

joined the company, CITIC Group invested in the Dicastal aluminum alloy automobile wheel manufacturing project. Xu Zuo and others were sent abroad to learn the manufacturing technology and equipment technology of aluminum wheels. After returning to China, he participated in the research work on the trial production of aluminum wheels.

He worked as an inspector at Bohai Aluminum Company, and served as deputy section chief, section chief, sales department manager, corporate management department manager, and company president at Dicastal Wheel Manufacturing Co., Ltd. (now CITIC Dicastal Co., Ltd.) Assistant manager, deputy general manager, etc.

During this period, Xu Zuo completed his identity transformation from a technical researcher to a company manager. In 2007, Xu Zuo became the general manager of CITIC Dicastal Co., Ltd., the party secretary of the company in 2008, and the vice chairman of the company in 2013.

Official information shows that CITIC Dicastal Co., Ltd. is the first aluminum wheel manufacturing enterprise in mainland China invested and established by CITIC Group in 1988. It was formerly known as Dicastal Wheel Manufacturing Co., Ltd. In 2007, it underwent joint-stock restructuring and was officially renamed CITIC Dicastal Co., Ltd. in 2012.

In October 2016, Xu Zuo became the assistant to the general manager of CITIC Group, chairman and party secretary of CITIC Dicastal Co., Ltd.; in June 2019, he became the deputy general manager of CITIC Group, a position he has held until now.

The Central Inspection Team has been stationed for nearly two months

In April this year, the third round of inspections of the 20th Central Committee completed its stationing work. 15 inspection teams carried out regular inspections of 34 economic departments and financial units. Among them, the 12th Central Inspection Team inspected CITIC Group. The deadline for the

inspection team to accept petitions is July 12 this year. The inspection team mainly accepts letters, calls and visits that reflect the problems of the CITIC Group Party Committee leadership team and its members, the main leaders of lower-level party organizations and personnel in key positions. The focus is on violations of political discipline, organizational discipline, integrity discipline, mass discipline, and work discipline. Reports and reflections on aspects of life discipline and other aspects.

The leader of the 12th Central Inspection Team mentioned that we should pay close attention to the powers and responsibilities, strengthen the supervision of "top leaders", accurately grasp the characteristics of financial institutions, focus on inspecting the performance of functions and responsibilities, promote high-quality development, prevent and resolve financial risks, and promote financial development. Supply-side structural reform, in-depth promotion of comprehensive and strict party governance, and rectification of problems discovered through inspections, audits and other supervision.

The Central Inspection Team has been stationed at CITIC Group for nearly two months, and Xu Zuo was dismissed from office.

It is worth noting that on January 12 this year, Xu Xiang, a former member of the Discipline Inspection Commission and former director of the Office of the Supervisory Board of CITIC Group, voluntarily surrendered. Two days before Xu Zuo was dismissed, Xu Xiang was expelled from the party.

Xu Xiang was born in 1960. He has served as a member of the Discipline Inspection Commission of CITIC Group, deputy director of the Organization Department of the Party Committee (deputy general manager of the Human Resources Department), director of the Office of the Board of Supervisors, and shareholder representative supervisor.The

report shows that Xu Xiang engages in "two-faced" behavior, uses the opportunity of wedding celebrations to make money, runs businesses in violation of regulations, holds equity in unlisted companies, uses his position to gain abnormal benefits in securities transactions, and provides services to his relatives. Collect savings and make profits. The

report also mentioned that Xu Xiang, as a disciplinary inspection cadre, knew and violated disciplines, violated regulations and interfered in the discipline enforcement and accountability of subordinate companies, was morally corrupt, violated life disciplines, used organizational personnel power to engage in power-for-money transactions, and was responsible for personnel arrangements, project contracting, etc. Many people seek profit.

On January 19 this year, officials reported that Zhang Xu, former party committee member and vice chairman of CITIC Investment Holdings Co., Ltd., was under investigation. CITIC Investment Holdings Co., Ltd. is a wholly-owned subsidiary of CITIC Group and a comprehensive cross-industry and cross-regional investment platform.

In January this year, the work report of the third plenary session of the 20th Central Commission for Discipline Inspection mentioned that we will continue to pay close attention to key issues, key areas, key objects, new types of corruption and hidden corruption, and deepen the rectification of finance, state-owned enterprises, energy, tobacco, medicine, and infrastructure projects. and corruption in power-concentrated, capital-intensive, resource-rich areas such as bidding and tendering.

According to the official website of the Central Commission for Discipline Inspection and the State Supervision Commission, at least three people in the financial sector, including Xu Zuo, have been investigated this year. The other two are Lou Wenlong, the former vice president of the Agricultural Bank of China, and the former vice president of the China Development Bank. Li Jiping.

Author: Tong Xizhong

Editor: Sun Xiaobo