(Yicai Global) Aug. 18 -- Shares of China Railway Construction, the main building contractor on the country’s high-speed train network, declined following the unexpected death of its chairman, aged 58.

The shares [SHA:601186] closed 1.8 percent lower today at CNY9.10 (USD1.31) apiece, after earlier declining as much as 2.4 percent.

Chen fell to his death from a high building on Aug. 16, the Beijing-based company announced today. He had been chairman for almost two years. The state-backed firm is running normally and a replacement to Chen will be nominated soon, the statement added.

An inspection team from the State-owned Assets Supervision and Administration Commission, which oversees China Railway Construction, has been conducting inspections at the firm for two months according to one statement on the firm's official website.

Editor: Ben Armour