China investigates head of commission that oversees state-owned companies + MORE Sep 1st

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BEIJING, China – Authorities announced Sunday an investigation into the head of a commission that oversees the China’s state-owned companies, in the country’s latest high-profile corruption case.
The Ministry of Supervision said in a brief statement that Jiang Jiemin, director of the Cabinet’s Assets Supervision and Administration Commission, is being investigated over suspected serious disciplinary violations. The vague term is often shorthand in official Chinese announcements for allegations of corruption by a government official or manager of a state company.
Jiang was previously chairman of the country’s biggest oil company, China National Petroleum Corp. In the past week, the Assets Supervision and Administration Commission announced similar disciplinary investigations into four executives at the state-owned company.
Jiang left his post as chairman of CNPC in March to head the Assets Supervision and Administration Commission.
Authorities have announced a series of investigations into senior and lower level officials as President Xi Jinping has made a crackdown on corruption and extravagant, wasteful work styles a key feature of his first few months in power…

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4.5 year – 2.45%

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5.5 year – 2.70%

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