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CCTV exec investigated for running protection racket

A senior executive with the sate-run China Central Television (CCTV), Guo Zhenxi, has been placed under investigation for graft.
China’s top prosecutors announced that Guo, pictured left, the director of CCTV’s finance and economics channel and concurrently advertising director, is being investigated on suspicion of taking bribes.

Another producer of CCTV’s finance channel, Tan Liwu, was also detained.

Guo has been in charge of CCTV’s annual 3.15 consumer rights gala, a controversial show which targets various companies including Apple, Nikon and McDonalds, over a range of consumer rights issues.

CCTV came under heavy criticism last year for incorrectly accusing Chinese property developers of owing 3.8 trillion yuan ($624 billion) in unpaid taxes.

Guo was suspected of using the 3.15 gala and other financial programs to attack certain companies in exchange for bribes from others, the Global Times said. He’s also suspected of taking money from companies after threatening to broadcast negative stories about them.

A number of entrepreneurs, including Giant Interactive Group CEO Shi Yuzhu, have accused Guo of misusing CCTV’s finance channel for personal gain.

Sources: Financial Times, Reuters, Global Times, Henan Business Daily (河南商报)


Hui Zhi is the Senior Manager for Content with the China Compliance Digest, where a version of this post first appeared.

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