China graft watchdog probes Norinco Group ex-chairman Yin Jiaxu

imageStock Markets10 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

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