Nov 24, 2021 08:37 PM

FINANCE

Another Everbright Executive Investigated for Graft

By Zhang Yukun and Wu Xiaomeng

Everbright's Xia Wei

Everbright's Xia Wei

Yet another executive working for a subsidiary of state-owned financial conglomerate China Everbright Group Ltd. has fallen under investigation for suspected corruption.

Xia Wei, a senior executive of Shanghai- and Hong Kong-listed China Everbright Bank Co. Ltd. (601818.SH), was put under investigation on suspicion of “serious violations of (Communist Party) discipline and law,” China’s top corruption watchdog announced Tuesday. The allegation is a common euphemism for graft.

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