Energy firm's chairman probed for corruption

A chairman of a large State-owned enterprise in Yulin, Shaanxi province, was put under investigation for corruption, local media reported on Tuesday.

Wang Rongze, board chairman of Yulin Energy Group Co and Yushen Coal Co, was removed from his post on April 24 by the Shaanxi provincial discipline committee of the Party.

Yulin Energy Group Co was established on July 6, 2012 and is the third-largest energy firm in the province.

It has more than 5,000 employees and its operating income is set to reach 50 billion yuan ($8.2 billion) by the end of 2015.

Wang was appointed chairman of the board on Oct 15, 2012.