Jia Changbin

Jia Changbin has been ordered to resign from his post as general manager of the China Aviation Oil Holding Company (CAOHC) for his involvement in a scandal concerning the Singapore Exchange. He was found guilty by a Singaporean court in 2004.

The State-owned Assets Supervision and Administration Commission last week announced Jia's successor as head of the heavyweight jet fuel supplier as Sun Li, former chief of the chemical and marketing business of the China National Petroleum Corporation.

Jia and his former deputy Chen Jiulin, who was also chief executive of CAOHC subsidiary China Aviation Oil (Singapore), were found to have failed to inform the Singapore Exchange of its massive losses of $550 million from oil derivative trading. 

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