BUSINESS

Former Sinopec Chairman Fu Chengyu Under Investigation

Published: Nov. 1, 2026 10:47 p.m. GMT+8

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Fu Chengyu. Photo: VCG

China’s top anti-corruption authorities have placed Fu Chengyu, the former chairman of state-owned oil giant China Petrochemical Corp. (Sinopec), under investigation more than 11 years after his retirement.

The Central Commission for Discipline Inspection and the National Commission of Supervision announced on Saturday that Fu, 75, was suspected of serious violations of discipline and law. The announcement did not detail the allegations. Caixin learned from multiple sources that authorities had taken him from his home on Thursday.

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Fu Chengyu, former Sinopec chairman, is under investigation over 11 years after retirement for suspected discipline violations.
Probe may relate to Sinopec's 2014 sales unit mixed-ownership reform and restructuring, involving over 100 billion yuan investment.
Fu previously led CNOOC, including a 2005 $18.5 billion Unocal bid, amid ongoing anti-corruption scrutiny in state energy sector.

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