Ex-chief of Chinese defence giant Norinco under probe for graft
Yin Jiaxu, 65, the ex-chief of Chinese defence giant China North Industries Group Co (Norinco) is being probed for “serious violation” of laws and regulations, the Central Commission for Discipline Inspection (CCDI), the country’s top anti-graft watchdog said in a brief statement, published on its website, on Sunday.
Yin, who headed the high-profile Fortune 500 company between 2013 and 2018, is the latest former senior official from the defence industry to be probed.
The CCDI, according to Beijing Daily, found that during Yin’s term as head of the group for five years some senior officials in the group had abused their powers for personal gains, providing unjustified convenience for their spouses, children, and relatives to run businesses or enterprises.
“Born in 1956, he was the deputy general manager of China South Industries Group Co in 2002, and later served as the deputy general manager of Norinco in 2010, then as the chairman from 2013. Yin retired in 2018,” the state media report said.