Former chairman of Greentown China charged over HK$20m bribe in Dalian property deal
Hong Kong's ICAC has charged a former listed-company chairman with conspiracy to accept a HK$20 million bribe linked to a RMB 440 million property acquisition in Dalian. The case was heard in the Eastern Magistrates' Court on 9 October 2026.
Hong Kong's Independent Commission Against Corruption (ICAC) has charged a former listed-company chairman with conspiracy to accept bribes, alleging he received HK$20 million from a shareholder of a Dalian property developer. The case, involving a RMB 440 million (US$60.4 million) property acquisition, was heard in the Eastern Magistrates' Court on 9 October 2026.
The defendant, Zhang Yadong, 58, was the then-chairman of Greentown China Holdings Limited. He faces one count of conspiracy for an agent to accept an advantage, contrary to the Prevention of Bribery Ordinance.
According to the charge, between January 2020 and March 2023, Zhang allegedly conspired with an intermediary, the Dalian property developer's shareholder, and his own son to accept a HK$20 million bribe from the shareholder. The bribe was intended to induce Greentown China to acquire the developer's equity, which included a property project in Dalian.
ICAC investigations revealed that the shareholder had been marketing the Dalian property project to Greentown China since 2019. Zhang is accused of soliciting the bribe through the intermediary, leading to Greentown China's purchase of the project for RMB 440 million. The alleged bribe was deposited into Zhang's son's bank account in multiple instalments via the intermediary.
The case underscores ongoing efforts by Hong Kong authorities to combat corruption in cross-border business transactions involving mainland Chinese assets. Greentown China, a major property developer listed in Hong Kong, has not commented on the proceedings.