The campaign to root out corruption in state-run companies in China—in particular the petro sector, long the stomping ground of felled overlord of the security apparatus Zhou Yongkang—has just netted the general manager of the largest oil company in China.
Anti-corruption authorities announced on March 16 that Liao Yongyuan, general manager at PetroChina, a state giant with over 500,000 employees and revenues of over $300 billion, has been placed under investigation for “serious violations of Party discipline and the law.”
Liao isn't the first high-ranking executive at PetroChina to be placed under investigation.
