China graft watchdog probes Norinco Group ex-chairman Yin Jiaxu

imageStock Markets14 hours ago (Apr 04, 2021 05:50)

© Reuters.

BEIJING (Reuters) – China’s top anti-graft watchdog said on Sunday a former chairman and head of the Communist Party at state defence giant China North Industries Group Co (Norinco Group) is under investigation for suspected, undisclosed disciplinary violations.

The Central Commission for Discipline Inspection (CCDI) said Yin Jiaxu is suspected of “serious violation” of laws and regulations, according to a statement on its website that provided no further details.

Yin joined Norinco Group in 2002 and chaired the company during 2013-2018, according to the CCDI.

Norinco, a major military industrial group, provides weapons and technical support to China’s People’s Liberation Army and is also engaged in the oil and gas business.

The company did not answer Reuters’ call seeking comment outside usual business hours.

Under President Xi Jinping, China has been engaged in an aggressive anti-corruption campaign for several years.

China graft watchdog probes Norinco Group ex-chairman Yin Jiaxu

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Leave A Reply

Your email address will not be published.