The Chinese government owns 75% of Sinopec’s shares |
The former head of Chinese oil firm Sinopec, who stepped down unexpectedly in June, has been arrested. Officials confirmed that Chen Tonghai had been detained for questioning, but did not explain why.
Following Mr Chen’s decision to quit for “personal reasons”, state media reported that he was being investigated for “financial problems”.
Corruption is a major issue in China, with President Hu Jintao identifying personal malpractice as a huge problem.
