The former chairperson of China’s defence giant China North Industries Group Co (Norinco) is currently being probed for alleged disciplinary violations. Yin Jiaxu allegedly committed “serious violations” like graft, going against laws, as stated by the Central Commission for Discipline Inspection (CCDI) - the top anti-graft watchdog in China.
Yin was at the helm of the company’s leadership between 2013-2018, and is among many being probed from the defence industry. According to Beijing Daily, the CCDI found evidence of abuse of power by some senior officials in order to further their personal gains. These include providing convenience to family members to run businesses.
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Yin started off as the deputy general manager in 2002, and then served as the chairman from 2013.
Norinco is the backbone of military support for China’s People’s Liberation Army. The company ranked 154th in Fortune 500 company rankings with $68.7 billion operating revenue. It also ranks number 1 in China for military enterprises.
According to the Stockholm International Peace Research institute, Norinco is the ninth-largest arms company in the world, and the third-largest in the country.
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President Xi Jinping is undertaking an anti-corruption exercise which has caught several senior officials. In January, Hu Wenming, the head of one of China’s largest shipping companies was arrested on corruption charges. In 2020, he was expelled from the Communist Part of China for allegedly taking bribes and violating party discipline.
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