Apr 05, 2023 06:54 PM

CHINA

Former China Everbright Chairman Probed as Financial Crackdown Intensifies

By Wu Xiaomeng and Zhang Yukun

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Li Xiaopeng, the former chairman of state-owned financial conglomerate China Everbright Group Ltd. Photo: VCG

Li Xiaopeng, the former chairman of state-owned financial conglomerate China Everbright Group Ltd. Photo: VCG

Li Xiaopeng, the former chairman of state-owned financial conglomerate China Everbright Group Ltd., has been placed under investigation for suspected corruption, as the government’s crackdown on misconduct in the financial sector intensifies.

The Central Commission for Discipline Inspection (CCDI) announced that Li was being probed for “severe violations of (party) discipline and laws” — a term usually referring to corruption — according to a short statement released on Wednesday.

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