The president of state-owned energy giant China Sinopec Group is under investigation for suspected “serious disciplinary violations”, the country’s antigraft watchdog said.
The China Central Commission for Discipline Inspection (CCDI) named Wang Tianpu, an oil industry veteran, in a one-line statement on its website, using the usual euphemism for corruption.
Sinopec Group is the parent of China Petroleum & Chemical Corp. (Sinopec Corp., 00386.HK), Asia’s largest refiner of oil.
Group spokesman Lu Dapeng said top management held an emergency meeting Monday after receiving the CCDI notice and that the company fully supported the government’s decision, Reuters reported.
President Xi Jinping has warned that corruption threatens the survival of the ruling Communist Party. His two-year antigraft campaign has brought down scores of senior officials in the party, the government, the military and state-owned enterprises.
The CCDI said in February it was targeting 26 of China’s biggest state firms for inspections this year.
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