Another high-ranking executive from a central state-owned enterprise in China has been investigated. Lu Jin, former Chairman of China Gold Group, stepped down from his position a month ago and is now under scrutiny.
According to a report from the website of the Central Commission for Discipline Inspection of the Communist Party of China and the National Supervisory Commission on the afternoon of September 25, Lu Jin, former Party Secretary and Chairman of China Gold Group Limited, is suspected of serious violations of discipline and law. Currently, he is under investigation by the joint disciplinary and supervisory team of the Central Commission for Discipline Inspection and the National Supervisory Commission stationed at the State-owned Assets Supervision and Administration Commission of the State Council and the discipline inspection and supervisory commission of Tianjin Municipality.
It is worth noting that China Gold Group’s A-share listed company Zhongjin Gold announced on the evening of August 23 that the board of directors recently received the written resignation report submitted by Chairman Lu Jin. Due to personal reasons, Lu Jin resigned from the positions of Chairman of the 7th Board of Directors, director, and chairman of the Board of Directors Strategic Committee. After resigning, Lu Jin no longer holds any position in the company.
One week later on August 30, China Gold Group announced that Lu Jin was no longer the Party Secretary or Chairman of the company.
Public records show that Lu Jin was born in January 1964, graduated from the Department of Mechanical Engineering at Central South University, started working in 1984, and was a member of the 14th National Committee of the Chinese People’s Political Consultative Conference and Economic Committee.
Lu Jin worked for many years at the China Metallurgical Geological Bureau, serving as Deputy Director. In November 2011, he became the Director of the China Metallurgical Geological Bureau.
In November 2019, Lu Jin became Chairman of China Gold Group Limited (during this period, he also served as Chairman, director, and chairman of the Board of Directors Strategic Committee of China Gold International).
The official website shows that China Gold Group Limited is the only central enterprise in the Chinese gold industry and serves as the President Unit of the China Gold Association. The company was established in 2003, formerly known as the State Gold Administration of the Communist Party of China and China Gold Corporation.
Currently, China Gold Group owns four listed companies, including Zhongjin Gold, the first A-share listed company in the gold industry, China Gold International listed in Toronto, Canada and Hong Kong, as well as China Gold and Zhongjin Radiation.