Shanghai’s State-Owned Assets Chief Investigated

What’s new: The head of Shanghai’s municipal state-owned asset watchdog is being investigated by local graft busters, as the city ramps up a campaign against corruption at state firms that has ensnared several executives this year.

Bai Tinghui, Communist Party chief and director of the Shanghai State-owned Assets Supervision and Administration Commission, is suspected of “serious violations of discipline and law,” according to a statement released Thursday by the city’s discipline inspection commission. While the one-sentence statement provided no details about Bai’s wrongdoing, the phrase is a common euphemism for corruption.