Former Sinopec chairman being investigated

Chen Tonghai, former chairman of China Petroleum & Chemical Corp. (Sinopec), is under investigation and being detained by Chinese authorities. In the first official confirmation a probe is underway, Li Rongrong, director of state-owned Assets Supervision and Administration Commission, did not specify the nature of the investigation, but said at a Communist Party Congress panel discussion that the investigation has not been completed yet. Chen resigned as chairman of Sinopec Corp. and as president and party secretary of its parent company, China Petrochemical Corp., in late June. His departure was due to personal reasons, Sinopec Corp. said at the time. (October 15, 2007)