# state‑owned enterprises

Moutai’s Finance Chief Placed Under Liuzhi in Supervisory Probe, Exposing Governance Risks

Kweichow Moutai announced that its vice‑general manager, CFO and board secretary, Jiang Yan, has been placed under liuzhi by the Zunyi Municipal Supervisory Commission. The move highlights governance and reputational risk at one of China’s flagship state‑linked consumer companies and could spur further regulatory scrutiny.