(Oilnews.com, Dec 25, 2006) Gong Jialong, chairman of the China Chamber of Petroleum Industry (CCPI) and president of Tianfa Group, is under investigation due to suspected economic crime. On Dec. 23, 2006, senior executives at Tianfa Group convened an emergency meeting on the matter.

As the biggest private Chinese oil company, Tianfa Group has two listed arms and dozens of other subsidiaries, with total assets up to six billion yuan. As of May 2006, the private oil group¡¯s bank insolvency reached more than 2.9 billion yuan.
source:Oilnews.com
Drawn from Chinese language press