Caixin
Apr 05, 2021 07:26 PM
BUSINESS & TECH

Ex-Boss of Chinese Military Gear Giant Investigated for Corruption

What’s new: A former boss of a state-owned military equipment giant has come under a graft investigation, in one of the latest cases in China’s years-long campaign against public-sector corruption.

Yin Jiaxu, a former chairman and Communist Party chief of China North Industries Group Corp. Ltd., is being investigated for alleged “serious violations of (party) discipline and law” — a euphemism for corruption — China’s top anti-graft agency said in a statement (link in Chinese) Sunday.

The background: China’s sweeping campaign to clean up corruption at all levels has impacted a multitude of senior officials and businessmen in recent years.

Yin, 65, is a veteran in the military equipment industry. He joined China North Industries in 2010 to become its party chief, and served as its chairman from 2013 to 2018. Previously, he spent eight years at another state-owned defense-equipment titan, China South Industries Group Co. Ltd., where he worked as a deputy general manager from 2002 to 2010.

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 Lin Jinbing (jinbinglin@caixin.com) and editor Michael Bellart (michaelbellart@caixin.com)

Support quality journalism in China. Subscribe to Caixin Global starting at $0.99.

Follow the Chinese markets in real time with Caixin Global’s new stock database.

 

loadingImg
Register to read this article for free.
Register
Share this article
Open WeChat and scan the QR code