Top executive demoted over 1.6 million yuan booze

Sinopec, which is Asias top refiner, demoted Lu Guangyu, who was general manager at the companys operations in the southern province of Guangdong, for harming Sinopecs image.Lu bought 1.6 million yuan ($245,900) worth wine and spirits, after details of the purchase leaked onto the Internet and sparked uproar over extravagance at the state-owned firm the company had to demote him. The company also fined Lu an unspecified sum and ordered him to pay back 130,000 yuan for alcohol he and his associates had already drunk.His purchases included 480 bottles of Moutai, expensive Chinese liquor traditionally drunk at state banquets.