Yin Jiaxu, former chairman of the Ordnance Industry Group, who was involved in the loss of huge amounts of state-owned assets and other "seven deadly sins," was arrested

On October 25, the Supreme People's Procuratorate released information that Yin Jiaxu, former secretary of the party leading group and chairman of the board of directors of China North Industries Group Co., Ltd., was suspected of accepting bribes and illegally making profits for relatives and friends, and the State Supervision Commission concluded its investigation and transferred it to the procuratorial organs for review and prosecution. A few days ago, the Supreme People's Procuratorate made a decision to arrest Yin Jiaxu on suspicion of accepting bribes and illegally making profits for relatives and friends in accordance with the law. The case is under further processing.

In April this year, the Central Commission for Discipline Inspection and the State Supervision Commission conducted a case review and investigation of Yin Jiaxu's serious violations of discipline and law. In September, the State Supervision Commission of the Central Commission for Discipline Inspection released the news that after the meeting of the Standing Committee of the Central Discipline Inspection Commission studied and reported to the CPC Central Committee for approval, it was decided to expel Yin Jiaxu from the party; cancel the treatment he enjoyed in accordance with regulations; confiscate his gains from violating discipline and law; and transfer his suspected crimes to the procuratorial organs for examination and prosecution according to law, and the property involved was transferred together.

According to a previous circular issued by the Central Commission for Discipline Inspection and the State Supervision Commission, Yin Jiaxu had 7 manifestations of violating discipline and law: losing his ideals and convictions, betraying his original mission, deviating from the party, engaging in duplicity and being a two-faced person, deceiving the organization, and deliberately resisting organizational review; ignoring the spirit of the eight central regulations, holding golf cards in violation of the law for a long time, obsessing over playing golf, accepting gifts in violation of the law, and accepting banquets and travel arrangements that may affect the fair execution of official duties; the concept of organization is indifferent, he does not report personal matters according to regulations, and he does not truthfully explain problems to the organization They are greedy and selfish, have a corrupt family style, "rely on enterprises to eat enterprises," support and connive at relatives to seek huge profits in violation of the law, and engage in money and color transactions; bear the main leadership responsibility for the loss of huge amounts of state-owned assets; wantonly collect money and accumulate wealth, use their positions to facilitate the pursuit of benefits for others in enterprise operations, payment settlement, and other aspects, and illegally accept huge amounts of property; abuse public power and entrust the profit-making business of their own units to relatives and friends for personal gain, resulting in huge losses to the interests of the state.

According to the data, Yin Jiaxu spent most of his working life in the system of China North Industries Group, he became the general manager of Changan Automobile Group in July 1998, and became the deputy general manager of China North Industries Equipment Group in 2002, the chairman and general manager of Changan Automobile Group, and he was at the helm of Changan Automobile Group for more than 10 years. In 2010, Yin Jiaxu left China North Industries Group and served as deputy general manager and chairman of China North Industries Group until his retirement in 2018.

Yin Jiaxu's more than 10 years at the helm is also one of the fastest growing periods of Changan Automobile Group. In September 2000, Nanjing Changan Automobile Co., Ltd. was established, in April 2001, Changan Ford Automobile Co., Ltd. was established (renamed Changan Ford Mazda Automobile Co., Ltd. in 2006), in July 2002, Hebei Changan Automobile Co., Ltd., and in September 2005, the joint venture company Jiangling Holdings Co., Ltd. was established.

As the core vehicle enterprise of Changan Automobile Group, the performance of Chongqing Changan Automobile Co., Ltd. (hereinafter referred to as "Changan Automobile") also grew rapidly during this period. In 2002, Changan Automobile's operating income was 9.884 billion yuan and net profit was 835 million yuan; by 2010, Changan Automobile's operating income increased to 33.526 billion yuan and net profit increased to 2.035 billion yuan.

In the more than 10 years at the helm of Changan Automobile Group, Yin Jiaxu is also a topical figure in the domestic automotive industry, and has put forward many views that have aroused public attention, including calling for tilting policies for independent brands, introducing the National Vehicle Law; abolishing restrictions on small-displacement vehicles; and promoting the industrialization of autonomous hybrid vehicles.

It is worth noting that Yin Jiaxu, who was born in April 1956, has publicly stated that he should have been able to work until he was 65 years old (2021) and then retire, but he "took the initiative to write a letter to the leader and asked for early retirement", "It is not of much significance to work for two more years and two years less, what is important is to pass on the baton of China's weapons industry cause well." However, only three years after his retirement, Yin Jiaxu was investigated.