An ongoing probe into Qiao Hong, former general manager of Chinese liquor maker Kweichow Moutai Co. Ltd, has had no effect on normal production, operation and development, said a company statement on Monday.

The investigation only related to Qiao, and "all the production and operation of the company is normal", said the announcement.

Qiao was transferred from the company to a new position as deputy director of the Guizhou Provincial Committee of State Assets Administration on May 11.

Suspected of taking bribes from sponsors during the 2002 football World Cup in the Republic of Korea, Qiao was on Friday placed under "double designation", meaning that he should be available to answer charges at any designated time and place. Qiao allegedly organized a trip to the World Cup for outstanding salespeople and other excellent company employees.

Chairman Yuan Renguo was standing in as general manager until Qiao was replaced, it said.

Kweichow Moutai, maker of the Maotai-brand "baijiu" liquor, was listed on the Shanghai stock exchange in 2001. Last year, the company announced record profits of 400 million yuan (51 million U.S. dollars).

The Shanghai stock exchange suspended the trading of Moutai shares on May 10, saying it needed to clarify media reports which led to a sharp drop in Moutai's share prices a day earlier. The company's share price fell by 4.7 percent on May 9.

Trading of Moutai shares resumed on May 14.

Source: Xinhua