Chinese mainland entrepreneur Gu Chujun has filed a lawsuit with court, accusing Hong Kong scholar Lang Xianping of slander.

Hong Kong's High Court has accepted the case.

The dispute comes after Lang Xianping delivered a speech at Shanghai-based Fudan University earlier this month, saying that Gu Chujun, Chairman and CEO of Greencool Group, siphoned off state-owned assets through enterprise restructuring.

The CEO says the scholar's speech slanders his personality and reputation.

Lang Xianping, a professor of finance, states that he is not worried about the legal action and will never retreat from revealing truth.

He insists that Gu Chujun's large-scale enterprise purchase took advantage of the many loopholes in mainland laws and regulations governing asset restructuring.

(CRI August 19, 2004)