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April 28, 2015

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Top Sinopec exec put under investigation for corruption

A top executive of state energy firm China Sinopec Group is under investigation for suspected “serious disciplinary violations,” the country’s anti-graft watchdog said yesterday.

The phrase usually refers to corruption and abuse of power.

The China Central Commission for Discipline Inspection (CCDI) named Wang Tianpu, an oil industry veteran and general manager of Sinopec Group, in a one-line statement on its website. Sinopec Group is the parent of Sinopec Corp, Asia’s largest oil refiner.

Sinopec spokesman Lu Dapeng said its top management held an emergency meeting yesterday after receiving the CCDI notice on Wang, and the company fully supported the government’s decision.

Wang had already been issued a major administrative demerit over a November 2013 pipeline explosion that killed 62 people in the eastern port city of Qingdao.

Chinese President Xi Jinping has warned that corruption threatens the survival of the Communist Party and his anti-graft campaign has brought down scores of senior officials in the Party, the government, the military and state-owned enterprises.

China is stepping up inspections this year at conglomerates owned by the central government as part of its anti-graft efforts.

CCDI said in February that it was targeting 26 of China’s biggest state firms for inaugural inspections this year.

Beijing this month committed to stepping up public scrutiny of state firms’ financial performance, as well as to improve leadership, to increase transparency and fight corruption.

In recent weeks, FAW Group Chairman Xu Jianyi, Baosteel Vice President Cui Jian, a general manager at China National Petroleum Corp and a top executive at China Southern Power Grid have all been placed under investigation for corruption.




 

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