The publisher and editor-in-chief of Guangdong Province newspaper Xin Kuai Pao was fired by its parent company Yangcheng Evening News following the arrest of its reporter Chen Yung Zhou by the public security bureau, according to the Hong Kong newspaper Wen Wei Po.
Chen was arrested after he wrote a series of reports between September 2012 and June 2013 on corporate fraud committed by the management of heavy machinery manufacturer Zoomlion including the falsification of its earnings report and fraudulent marketing practices.
He then sent his findings to the Securities and Futures Commission of Hong Kong and China Securities Regulatory Commission. However, investigations by the Securities and Futures Commission of Hong Kong did not reveal any wrongdoing by Zoomlion.
Chen is being held by Changsha public security bureau in Hunan Province on charges of "damaging commercial reputation," a criminal offense in China. He is the second reporter from Xin Kuai Bao arrested by public security bureau in as may months.
In addition, Chen's press credentials was nullified by the Guangdong Province Press and Publication Bureau.
The All-China Journalists Association has called on the Changsha public security bureau to protect the safety of Chen and said that it will join in the investigation into Chen's case.