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| Shanghai F1 chief in graft probe | Shanghai F1 chief in graft probe |
| (20 minutes later) | |
| The head of Shanghai's showcase Formula One motor racing circuit is being questioned over a major corruption inquiry, a state newspaper reported. | The head of Shanghai's showcase Formula One motor racing circuit is being questioned over a major corruption inquiry, a state newspaper reported. |
| Yu Zhifei, manager of the Shanghai International Circuit, is assisting police in the high-profile case, the Shanghai Securities News said. | Yu Zhifei, manager of the Shanghai International Circuit, is assisting police in the high-profile case, the Shanghai Securities News said. |
| The investigation is centred on the alleged misuse of the city's multi-billion dollar pension fund. | The investigation is centred on the alleged misuse of the city's multi-billion dollar pension fund. |
| Several top officials and prominent businessmen have also been implicated. | Several top officials and prominent businessmen have also been implicated. |
| The government investigation has centred on the alleged misuse of at least one third of the 10bn yuan ($1.2bn) pension fund to make illegal loans and investments in real estate and other infrastructure deals. | |
| Last month, China's most senior Communist Party official in Shanghai, Chen Liangyu, was sacked for corruption. | |
| Mr Chen, 60, was accused of seeking benefits for companies and relatives and protecting people around him "who had seriously violated discipline and law". | |
| Mr Yu is being questioned over "illegal operations" at the $240m (£128m ) F1 track, according to the Shanghai Securities News report. | |
| Earlier reports highlighted Mr Yu's friendship with Mr Chen, whose administration was responsible for bringing motor racing to China. |