China’s anti-corruption watchdog, the Central Commission for Discipline Inspection, has announced that Hu Wenming, former chairman of both CSSC and CSIC, is under investigation for alleged serious criminal activities.
Hu, 63, had been the most powerful man in China’s shipbuilding industry over the past seven years. He started out from Aviation Industry Corporation of China (AVIC) and was appointed as chairman of CSSC in 2012 and chairman of CSIC in 2015 in state-owned enterprise management swaps arranged by the central government.
CSIC announced in September last year that Hu ceased to be the chairman of the group due to retirement.
CSSC and CSIC are currently in a merger process. The new entity, China Shipbuilding Group, is led by Lei Fanpei.