CHINA-ANTI-CORRUPTION: EX-CHAIRMAN OF NORINCO YIN JIAXU ARRESTED ON CORRUPTION CHARGES

The South China Morning Post (October 25) disclosed that China’s Supreme People’s Procuratorate had decided on October 25, to formally arrest Yin Jiaxu, former Norinco Chairman, “on suspicion of accepting bribes and making illegal gains for relatives and friends in accordance with the law”. His formal arrest came seven months after he was put under an internal party probe by China’s top anti-corruption body, the Central Discipline Inspection Commission (CDIC), for “serious violations of discipline and the law”. Yin Jiaxu had been the Party Secretary and Chairman of China North Industries Group Corporation (Norinco) until his sudden retirement in 2018, three years ahead of his official retirement age of 65. He was formally handed over to prosecutors on September 30 after being expelled from the party and stripped of all official positions and benefits. The CDIC accused Yin Jiaxu of receiving “huge sums” of money and gifts, using his official capacity to benefit others and transferring the profitable business of the company to relatives and friends for personal gain, “resulting in huge losses in national interests” and being “obsessed with golfing” and having long held a golf club membership illegally. Before rising to Norinco’s top management position in 2013, Yin Jiaxu spent more than 14 years at Changan Automobile Co, a subsidiary of Norinco that manufactures passenger cars, minivans, commercial vans and light trucks, where he was regarded as key to the group’s rebound from near bankruptcy in 1998. (Comment: The CDIC has previously arrested Hu Wenming, Chairman of the Aviation Industry Corporation of China and later China Shipbuilding Industry Corporation (CSIC), which oversaw the development of China’s aircraft carriers. There was suspicion that he may have been spying on behalf of a foreign power. Hu Wenming was expelled from the party for taking bribes and abusing his power. He faced trial in February in a Shanghai court and is now awaiting sentencing. Before Hu, Sun Bo, former General Manager of CSIC, was sentenced to 12 years in prison for taking bribes and abuse of power in July 2019.)





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