Former Sinopec Group CFO Liu Yun Expelled from Party, Referred to Prosecutors

Liu Yun, former member of the Party leadership group and chief accountant of China Petrochemical Corporation (Sinopec Group), has been expelled from the Communist Party of China. With approval from the Central Commission for Discipline Inspection and the National Supervisory Commission, the discipline inspection and supervision group stationed at the State-owned Assets Supervision and Administration Commission of the State Council and the Pingxiang City discipline inspection and supervision commission in Jiangxi Province filed a case to review and investigate Liu Yun's serious disciplinary and legal violations.

The investigation found that Liu Yun lost his ideals and convictions and abandoned his original mission; lacked organizational principles and failed to truthfully explain issues during organizational inquiries; breached the bottom line of integrity by improperly accepting gifts and shopping cards, improperly accepting travel arrangements and banquets, and improperly holding concurrent posts for remuneration; used his authority or the influence of his position to seek benefits for his relatives' business activities; and improperly held shares in non-listed companies and profited from them.

The investigation also found that Liu Yun used his position to embezzle public property, seek benefits for others in project contracting and other matters, and illegally accept huge amounts of property. Liu Yun seriously violated the Party's political, organizational, and integrity discipline, constituting serious duty-related violations and suspected crimes of embezzlement and bribery, and he did not restrain or stop after the 18th National Congress of the Communist Party of China.

In accordance with the relevant provisions of the Regulations on Disciplinary Action of the Communist Party of China, the Supervision Law of the People's Republic of China, and the Law of the People's Republic of China on Administrative Discipline for Public Officials, and following study by the Party committee of SASAC, it was decided to expel Liu Yun from the Communist Party of China; following study by the discipline inspection and supervision group stationed at SASAC, it was decided to cancel the benefits he enjoyed as stipulated and confiscate his illegal gains from disciplinary and legal violations. The Pingxiang City discipline inspection and supervision commission in Jiangxi Province has referred Liu Yun's suspected criminal issues to the procuratorial organ for review and prosecution in accordance with the law, and the property involved has been transferred as well.