Former Greentown China head charged for taking bribes over stake in real estate project
Hong Kong’s corruption watchdog has charged the former head of a listed company for allegedly accepting HK$20 million (US$2.5 million) in bribes from a mainland Chinese property developer in exchange for acquiring a stake in the developer’s real estate project. Zhang Yadong, 58, who was chairman of Greentown China Holdings from 2019 to 2025, faced a count of conspiracy to accept advantages, the…
Hong Kong's anti-corruption agency, the ICAC, has charged former Greentown China Holdings chairman Zhang Yadong, 58, for accepting bribes worth HK$20 million (US$2.5 million) from a mainland Chinese property developer. According to the ICAC, Zhang conspired with his son, a middleman, and others between January 2020 and March 2023 to accept bribes in exchange for Greentown China acquiring equity in the developer's real estate project.
The case was heard at Eastern Court on Friday. Prosecutors alleged that the bribes were paid to Zhang's son, who deposited them into his bank account through the middleman. The bribery scheme allegedly facilitated Greentown China's acquisition of a stake in the Dalian real estate project for 440 million yuan (US$65.6 million).
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
