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China Regulator Fines Parent Of BMW Partner Over False Accounting (Nikkei Asia) China’s securities regulator has fined Huachen Automotive Group Holdings and a group of current and former executives almost $9 million over false and incomplete disclosures made during bond sales by the bankrupt corporate parent of BMW’s local joint venture partner. Last week, Brilliance China Automotive, BMW’s Hong Kong-listed partner, revealed that it had discovered that subsidiaries had guaranteed 5.89 billion yuan ($905.91 million) in Huachen bank borrowings without authorization. The latest disclosures involve two Shanghai-listed units of Huachen, car parts maker Shenyang Jinbei Automotive and Liaoning Shenhua Holdings, an auto distributor and retailer.

Yang geJochen gollerKelvin lauJefferie alexious leeLiaoning shenhuaQi yuminHuachen automotive group holdingsShanghai shenhua holdingsChina securities regulatory commissionCentral commission for discipline inspectionShanghai stock exchangeLiaoning shenhua holdingsNikkei asiaBrilliance china automotiveShenyang jinbei automotiveChairman qi yumin