Caixin
Oct 09, 2020 05:27 PM
BUSINESS & TECH

Corruption Probe Topples Former Chief of State-Run Oil Company

What’s new: A former chairman of Shaanxi Yanchang Petroleum (Group) Corp. Ltd. has been sentenced to 11 years in prison and fined 2 million yuan ($295,000) after being found guilty of accepting bribes.

An investigation into Shen Hao found that he accepted more than 20 million yuan in bribes, included more than 7.2 kilograms of gold, the website 12309 revealed on Sept. 25. It added Shen was given a relatively lenient sentence after admitting to his crimes and cooperating with the investigation.

Background: The case is believed to be related to that of Zhao Zhengyong, former party chief of Northwest China’s Shaanxi province, who was given a death sentence suspended for two years in July for taking bribes worth more than 717 million yuan.

Following the fall of a major figure, it is relatively common to see officials tied to such major figures also toppled. More broadly, such cases are part of a years-long campaign by President Xi Jinping targeting corrupt officials in government and at major state-owned enterprises.

Related: ‘Two-Faced’ Former Party Chief Handed Suspended Death Sentence

Quick Takes are condensed versions of China-related stories for fast news you can use. To read the full Caixin article in Chinese, click here.

Contact reporter Yang Ge (geyang@caixin.com)

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