Senior Finance Executive at State Shipbuilding Giant Under Probe

What’s new: A senior executive who headed the financial arm of China’s state-owned shipbuilding giant China State Shipbuilding Corporation (CSSC) has become the latest target of graft busters.

Li Chaokun, former chairman of Zhong Chuan Finance Co. Ltd., has been investigated “on suspicion of serious violations of discipline and law,” a common euphemism for corruption, the Communist Party’s Central Commission for Discipline Inspection said Tuesday.