Yin Jiaxu (right), chairman of China Arms Industry Group, shakes hands with Ford’s paid executive Thistlefield when he was an executive at Changan Automobile.
Yin Jiaxu, former party secretary and chairman of China Arms Industry Corporation, is under disciplinary review and supervisory investigation for alleged disciplinary violations. Yin Jiaxu is another leader of China’s centralized military industry, following the fall of Hu Wenming and Sun Bozhou, the heads of China Shipbuilding Industry Corp.
Xi Jinping has launched a sustained anti-corruption campaign since taking power in 2012, with more than 1.3 million officials under investigation so far. Yin Jiaxu is the latest official to fall in this anti-corruption campaign. Observers generally believe that Xi’s anti-corruption campaign is not based on the rule of law, but rather is a means to eliminate dissent and consolidate his own power, and thus does not come with fundamental changes to the CCP’s corrupt system. Although Xi’s anti-corruption campaign has lasted for nine years, corruption continues to arise from generation to generation.
Hu Wenming, former secretary of the party group and chairman of China Shipbuilding Industry Corporation, was investigated on May 12 last year for allegedly accepting bribes and abusing power by personnel of state-owned companies. He has worked in a number of military enterprises, participated in the construction and development of China’s army, navy and air force equipment and China’s first self-produced aircraft carrier, J-10, the development of domestic large aircraft C919 and other projects.
Hu’s predecessor, Sun Bo, former general manager of China Shipbuilding Industry Corporation, was investigated in June 2018 for allegedly leaking confidential documents on the Liaoning aircraft carrier to foreign intelligence agencies and was later sentenced to 12 years in prison.
China National Weapons Industry Corporation is also known as China North Industries Corporation. The group was established in 1999 and has more than 50 subsidiaries and subordinate units, which serve the army, navy and air force, as well as the rocket army, strategic support forces and the armed police public security.
Yin Jiaxu, 65, has served as secretary of the party group and deputy general manager of the Hyundai Group since 2010 and was promoted to chairman in 2013 before voluntarily applying for retirement in 2018, according to the data.
According to a report published by the Stockholm International Peace Research Institute last December, China Arms Industry Corporation ranked ninth in the global list of weapons and equipment manufacturers and third in China, after China National Aviation Industry Corporation and China Electronics Technology Group Corporation. During Yin’s tenure, China North Industries Group made the Fortune 500 list twice, in 2013 and 2018.
In 2015, China National Weapons Industry Corporation was ordered to develop the Beidou satellite system, and in the same year, the company put up 1.5 billion yuan ($228 million) to form a business in Shanghai to create a national positioning service platform and develop technical standards for the Beidou system.
China National Armaments Industry Corporation is a civil-military integration company whose operations include building railroads, automotive components and oil development.
During his presidency, former U.S. President Donald Trump signed a presidential order banning all U.S. investors from buying stock in 31 Chinese companies, including China North Group.
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