A former head of China's state-owned petroleum company (CNPC) has been arrested on suspicion of corruption, MTI reported, citing a statement from state broadcaster CCTV's Anti-Corruption Bureau.
Beijing-based CNPC ranks fifth in the international rankings of the world's 500 largest trading companies.
Its 62-year-old former CEO Hsu Wen-tsung He was arrested in a northeastern province, the Chinese Communist Party's Anti-Corruption Bureau said Saturday, for accepting a large sum of bribes. According to a CCTV report, the investigation is not over yet, but Hsu has already been expelled from the party. The office, which also deals with anti-corruption issues, held its third plenary session on Monday, where Xi Jinping The head of state and party secretary also spoke. He said that the results of the fight against corruption over the past more than ten years are indeed equivalent to victory, but he acknowledged that the situation is nonetheless dangerous and complex, so he encouraged those present to continue the struggle.
After Xi Jinping came to power in China in 2012, a wide-ranging series of probes and probes were launched to curb corruption. According to the latest official data published in 2022, investigations have been initiated against 4.8 million leading party employees since then. In December, China's parliament adopted an amendment to the law imposing tougher penalties for corruption. In December, a former official at China's banking regulator was convicted of corruption and sentenced to life imprisonment, and a former central bank chief was sentenced to 16 years in prison.