China Removes Top Regulator on Anti-Corruption Charges

A powerful regulator with strong ties to China’s state-owned oil companies has been removed from his post as Beijing moves to expand its anti-corruption drive.
Chinese state media reported Tuesday that Jiang Jiemin, head of the government’s State-owned Assets Supervision and Administration Commission, was fired for “suspected serious disciplinary violations.”

While the government did not provide more details about the “disciplinary violations,” the phrase is often used as shorthand to describe corruption.
Jiang, who previously ran state oil company China National Petroleum Corp., had enormous control over China’s state-owned firms, and he is the most notable casualty yet in a crackdown that could have economic implications should it intensify further.

via CNN

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