Jiang Jiemin

Jiang Jiemin is a Chinese economic official who was, until September 2013, head of the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council. He is also the former Chairman of PetroChina and ex-General Manager of China National Petroleum Corporation (CNPC). He previously served as Vice-Governor of Qinghai Province. In September it was announced that he was under investigation by China's Communist Party for "suspected serious disciplinary violations".

Anti-corruption expert Zhang Yi takes control at China's state asset watchdog

Zhang Yi, the new chairman of Sasac. Photo: SCMP

Zhang Yi has been promoted to the position of chairman of the State-owned Assets Supervision and Administration Commission of the State Council (Sasac), according to Xinhua’s online database of human resources.

Wednesday, 18 December, 2013, 3:16pm

Action on CNPC signals Beijing's resolve to hit corruption hard

Former CNPC chairman Jiang Jiemin has been placed under investigation. Photo: AFP

An anti-corruption drive is sweeping China. As soon as Bo Xilai's trial ended on August 26, news broke of trouble brewing at China National Petroleum Corporation (CNPC), one of the nation's biggest state-owned enterprises and parent company of the Hong Kong-listed PetroChina.

5 Sep 2013 - 2:57am 2 comments

China sacks head of state asset regulator Jiang Jiemin amid graft probe

Jiang Jiemin. Photo: AP

Top Chinese economic official Jiang Jiemin has been sacked as head of the body overseeing state-owned companies for "suspected serious disciplinary violations", the official Xinhua news agency reported on Tuesday.

The phrase is normally used as code for corruption in China, and the move comes as the country's leaders step up a campaign against graft.

3 Sep 2013 - 1:06pm

Corruption probes raise state-owned enterprise reform hopes

Jiang Jiemin. Photo: Reuters

A scandal that has taken down the head of the State-owned Assets Supervision and Administration Commission (SASAC) just ahead of the Communist Party's key autumn economic planning meeting has raised hopes among investors anxious to see a trigger point for the long-promised break-up of state monopolies.

3 Sep 2013 - 1:04pm

Detained top official Jiang Jiemin was probed over Ferrari crash in Beijing

Jiang Jiemin

Jiang Jiemin , the latest in a string of top mainland officials detained for corruption investigations, was last year questioned by party officials in relation to a Ferrari crash in Beijing, though the cases appear unrelated.

3 Sep 2013 - 1:04pm 1 comment

PetroChina to join Exxon on giant Iraq oilfield


China's biggest energy firm PetroChina will join ExxonMobil in developing Iraq's giant West Qurna oilfield and is in talks with Lukoil

3 Sep 2013 - 1:03pm

Chinese oil giant CNPC seen buying more overseas energy assets

CNPC plans to increase overseas production to 200 million tonnes by 2015. Photo: Bloomberg

China National Petroleum Corp has already spent more money this year on energy assets than any other global producer. Oil and gas fields controlled by Exxon Mobil and Russia's Rosneft may be next on the list.

3 Sep 2013 - 1:02pm

Creative managers get cooking when fanciful targets served up

SASAC chairman Jiang Jiemin. Photo: Oliver Tsang

In the corridors of power at state-owned enterprises you will hear two new buzzwords these days - bao shi and cao zuo. Bao, meaning guarantee, and shi (10) refer to the 10 per cent profit growth target set by the state-owned Asset Supervision and Administration Commission (SASAC) for state-owned enterprises. 

3 Sep 2013 - 1:02pm

Fat chance of staff cuts after PetroChina headcount doubles

Fat chance of staff cuts after PetroChina headcount doubles

Making Jiang Jiemin, the former chairman of PetroChina, the head of the State-owned Assets Supervision and Administration Commission (Sasac) is a big sell for state enterprises.

3 Sep 2013 - 1:01pm 1 comment

State leaves little to chance as media follows prepared script

Chinese Premier Li Keqiang. Photo: Xinhua

I have no doubt that there will be a pre-election by Beijing loyalists for the next chief executive. The evidence lies in the press conferences of newly appointed Premier Li Keqiang and listed oil giant PetroChina.

3 Sep 2013 - 1:01pm 2 comments

China maritime agencies brought under one body

Liu Cigui will hold dual posts as part of maritime restructuring.

Deputy Public Security Minister Meng Hongwei will double up as head of the new China Coast Guard, designed to bring the nation's patchwork of maritime law enforcement agencies under a single roof amid ongoing territorial disputes with neighbouring countries.

3 Sep 2013 - 1:01pm

CNPC chief Jiang Jiemin to take top job at Sasac in state shuffle

Jiang Jiemin led an aggressive expansion at CNPC. Photo: Dickson Lee

Jiang Jiemin, the head of the country's biggest oil and gas producer, has been picked to lead a ministry-level agency that oversees about 70 trillion yuan (HK$87 trillion) of non-financial state assets.

3 Sep 2013 - 1:00pm

SCMP.com's top 10 most popular China stories of 2012

The wreckage of the Ferrari in which the son of Ling Jihua died. Photo: SCMP When it came to China news stories, cover-ups, riches and a beautiful First Lady dominated readers' interest on SCMP.com. Here are the 10 most popular stories based on reader visits. 3 Sep 2013 - 1:00pm

PetroChina pays US$1.2b to form joint venture with Encana

PetroChina agreed to pay Encana C$1.18 billion (US$1.2 billion) for a 49.9 per cent stake in an Alberta shale formation as Asia’s biggest oil producer steps up acquisitions of overseas oil and gas assets.

3 Sep 2013 - 1:00pm

BHP to sell its interest in Browse to PetroChina for US$1.63b

PetroChina has earmarked close to US$16 billion for overseas investment this year as it aims to have half its production outside China within eight years. Photo: Xinhua

PetroChina, Asia’s biggest oil producer, agreed to pay BHP Billiton US$1.63 billion for its holding in Woodside Petroleum’s proposed Browse liquefied natural gas project in Western Australia.

PetroChina will acquire an 8.33 per cent stake in the East Browse joint venture and a 20 per cent share of West Browse, BHP said on Wednesday in a statement.

3 Sep 2013 - 12:59pm