Corporate Governance, Chinese Style

In the Hutong, sitting on a stool, waving a paper fan, jeans rolled up.

The folks over at China Aviation Oil, the company nearly every China-bound airline loves to hate because of the high monopoly we-hate-foreigners prices CAO charges international airlines for fuel, are apparently getting a bit of comeuppance. Cris Prystay over at the AWSJ in Singapore notes that no less a personage than Jia Changbin, CAO Holdings’ Beijing-based CEO, has been arrested, charged with three criminal offenses and had his passport confiscated by Singaporean authorities. He’s out on S$250k bail, but he’s not going anywhere soon.

I think it’s great that China is getting serious about improving corporate governance. I just think it’s a damned shame they’ve had to outsource enforcement to Singapore.