BEIJING — The head of a multi-billion-dollar state-owned Chinese heavy machinery manufacturer was found hanging in his office as anti-corruption investigators probed his firm, state media said Tuesday.
Police believe Wu Shengfu, 51, the general manager of China First Heavy Industries (CFHI), killed himself, the official Xinhua news agency reported. His body was found early Monday in his office at the company headquarters in the northeastern city of Qiqihar, Xinhua said.
The ruling Communist Party’s feared anti-corruption investigators are carrying out a two-month inspection of the company, Chinese news portal thepaper.cn reported, adding that whistle-blowing allegations against Wu had circulated online previously.
CFHI makes machinery for purposes ranging from nuclear power equipment to petrochemical and auto manufacturing. Its Shanghai-listed arm — of which Wu was chairman — has a market capitalization of 66.8 billion yuan ($10.76 billion).
CFHI is one of the 53 enterprises directly run by the central government that are “key to national security and economy,” according to its website.
President Xi Jinping’s anti-corruption campaign has ensnared a long list of senior and lower-ranking officials, including the country’s former security czar Zhou Yongkang, who was sentenced in June to life in prison.
The drive has also led to a spike in official suicides to escape possible criminal proceedings and prevent the seizure of their ill-gotten gains, to the benefit of their families. Respected business news outlet Caixin said in January that 50 party and government officials have been publicly declared to have died of “unnatural causes” since 2012. That prompted the party earlier this year to order a survey of “unusual deaths” among officials, with details to be provided if the person was confirmed to have committed suicide.
In June last year, the chief of a $2 billion Chinese copper producer fell to his death from a building, reportedly following corruption allegations. Later in the year, Lou Xuequan, a former district Party chief in the eastern city of Nanjing, reportedly hanged himself at his home having been dismissed from his position for accepting money as gifts.
CFHI’s shares jumped on Tuesday, closing up by their 10% limit at 10.22 yuan ($1.65).
Copyright Agence France-Presse, 2015
