Chinese oil giant Sinopec has suspended two executives following a pipeline explosion in the coastal city of Qingdao which left more than 50 people dead, state media said Wednesday.

The blast last week occurred after a pipeline, run by state-owned Sinopec, sprang a leak early Friday and exploded several hours later as workers sought to repair it.

Sinopec said two executives of its subsidiary group Sinopec Pipeline Storage and Transportation Company -- party secretary -- were directly responsible for the explosion as company leaders, Xinhua news agency reported.

The two men have been asked to help with investigations into the incident, said Xinhua.

China has a very poor record on industrial safety as lax law enforcement and corruption enables business owners to cut corners or offer bribes to evade standards.

Around 28,000 people were killed or went missing in workplace accidents in the first half of this year, state media have reported.