Business warning about Hong Cuu Fruit Company (Chongqing, China) being investigated

The Ministry of Industry and Trade has received a report from the Vietnam Trade Office in China that the Chairman of the Board of Directors and a number of senior leaders of Chongqing Hongjiu Fruit Products Joint Stock Company in China are being subject to criminal enforcement measures due to their involvement in a case of loan fraud and/or fake VAT invoices that the Chongqing City Police are investigating.

The Ministry of Industry and Trade has received a report from the Vietnamese Trade Office in China regarding the Chairman of the Board and several senior leaders of Chongqing Hongjiu Fruit Co., Limited (Chinese name: 重庆洪九果品股份有限公司; English name: Chongqing Hongjiu Fruit Co., Limited) in China being subjected to criminal enforcement measures in connection with a loan fraud and/or falsification of VAT invoices case currently under investigation by the Chongqing Municipal Public Security Bureau. Several Chinese media outlets have reported that access to the company's headquarters in Chongqing has been restricted by authorities.

Company information:

- Company name: Chongqing Hongjiu Fruit Products Co., Limited (Chinese name: 重庆洪九果品股份有限公司; English name: Chongqing Hongjiu Fruit Co., Limited).

- Representative: Jiang Zongying (Chinese name: 江宗英; Vietnamese name: Giang Tông Anh).

- Business registration number: 91500103742896264D.

- Website: www.hjfruit.com.

- Date of business registration: October 12, 2002.

Currently, there is no official conclusion from the Chinese authorities regarding this matter. However, many mainstream Chinese media outlets have reported relatively widely and shown considerable interest in the issue, as Hongjiu Company is a large enterprise in the fruit industry.

In light of this situation, the Ministry of Industry and Trade recommends that Vietnamese businesses take note of the following:

(i) Closely monitor information from relevant authorities and official Chinese media to stay updated on related developments.

(ii) Proactively review contracts, transactions, and shipments related to Chinese businesses under investigation; take precautions against financial and payment-related risks.

(iii) Thoroughly research the information and situation of prospective partners, and carefully review the content of cooperation agreements to avoid legal and financial risks and impacts on the reputation and interests of the business.

The Ministry of Industry and Trade will continue to coordinate with relevant agencies to closely monitor the developments of the case and update the business community with new information as it emerges.

---

Author: Department of Foreign Market Development

Source: https://moit.gov.vn/tin-tuc/thi-truong-nuoc-ngoai/canh-bao-doanh-nghiep-ve-cong-ty-trai-cay-hong-cuu-trung-khanh-trung-quoc-dang-bi-dieu-tra.html