Jiang Jiemin, Chairman of Petro China Company Limited, attends a press conference in Hong Kong, 23 August 2007
Chinese economic grandee Jiang Jiemin has been sacked from his role as director of the state-owned Assets Supervision and Administration Commission, an agency that oversees the country’s 100 largest corporations. The move to oust him is seen as the latest example of President Xi Jinping’s ongoing attempts to weed out corruption within the Communist Party.
Only a few days ago, Zhou Yongkang, a retired member of the Politburo’s Standing Committee, appeared to have been placed under investigation for economic crimes.
The case against Jiang is connected to a probe into the activities of the so-called Shengli gang, a group of senior officials that wields considerable power over the country’s oil sector.