A Chinese man walks past the headquarters of North China Industries, or Norinco, in Beijing May 23, 2003. Norinco, one of China's largest conglomerates, was silent on Friday on sanctions imposed by the United States for alleged ballistic missile cooperation with Iran. The United States has imposed sanctions on China and Iran for ballistic missile cooperation, which will deprive Norinco of more than $200 million in annual exports to America over the next two years, according to U.S. documents and officials. REUTERS/Guang Niu ASW/TW - RP3DRINBJCAA

India & China

Chinese arms company NORINCO’s ex-chief arrested for corruption

By Khabarhub

October 26, 2021

BEIJING: Chinese state-owned defense corporation, North Industries Group Co (NORINCO) ex-chief Yin Jiashu was arrested on Monday on corruption charges.

Chinese state media reported that the former NORINCO party secretary and chairman, Yin Jiashu was arrested on suspicion of accepting bribes and illegally making profits for relatives and friends.

NORINCO is a Chinese state-owned defense corporation that manufactures a diverse range of civil and military products. It also contributes to China’s Belt and the Road Initiative (BRI) through civil construction works and military defense. (ANI)