An executive at Tencent Holdings Ltd., Chinas most valuable openly noted business, has actually been held by Chinese authorities, part of a probe into a high-profile corruption case including one of the countrys previous top law-enforcement officials, people acquainted with the matter stated.
Zhang Feng has been under investigation by Chinas antigraft inspector considering that early in 2015 for alleged unapproved sharing of individual data collected by Tencents social-media app WeChat, individuals said. They said Mr. Zhang was presumed of turning over WeChat information to previous Vice Public Security Minister Sun Lijun, who is being examining by Beijing for concealed offenses of Communist Party guidelines.
Investigators are taking a look at what kind of data Mr. Zhang apparently might have shown Mr. Sun and what Mr. Sun may have done with it, individuals stated.
Hong Kong-listed Tencent, which has a market capitalization of about $900 billion, verified Thursday that Mr. Zhang is under examination. The case “connects to claims of individual corruption and has no relation to WeChat or Weixin,” a representative stated in a statement to The Wall Street Journal. Weixin is WeChats sis app for the Chinese market.
Mr. Zhang was referred to as a Tencent vice president in a declaration launched by the community government of Zhangjiakou, a city near Beijing, in which he was referred to as having actually satisfied the citys mayor in October 2018.