Former China Cinda Executive Under Graft Investigation

What’s new: Zhuang Enyue, a former vice president of China Cinda Asset Management Co. Ltd., the national bad debt manager, has come under investigation, as an anti-graft crackdown on the finance industry intensifies ensnaring several top executives at some of the country’s largest bad banks.

The Central Commission for Discipline Inspection didn’t elaborate on the reason for the probe into Zhuang, saying he is “personally suspected of serious disciplinary and legal violations,” a phrase that often refers to corruption.