China charges former chief of state asset regulator with graft




 
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March 19th, 2015  
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Topic: China charges former chief of state asset regulator with graft


Chinese prosecutors on Thursday charged the former head of the state asset regulator with bribery and abuse of power, paving the way for the trial of the one-time oil man who had close links with a disgraced retired domestic security chief. President Xi Jinping has spent the past two years waging war on corruption, saying it threatens the survival of the ruling Communist Party. Jiang Jiemin ran the state asset regulator for just five months when he was sacked after being accused of corruption in September 2013. He was also a former head of CNPC, the parent of PetroChina Co. Ltd. and a close associate of Zhou Yongkang, the powerful domestic security chief, who is also being investigated for corruption.

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