FINANCE

Former CSSC Shipping Chairman Under Graft Probe

Published: Jun. 8, 2026 6:35 p.m. GMT+8

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Yang Li

Yang Li, a former chairman of Hong Kong-listed CSSC (Hong Kong) Shipping Co. Ltd., is under investigation for suspected corruption, anti-graft authorities said last week.

The probe adds to scrutiny of China’s state-backed ship-leasing sector, where another executive has been targeted in recent months.

Yang, 57, spent years in China State Shipbuilding Corp. Ltd. units, becoming chairman of CSSC (Hong Kong) Shipping in 2013 and stepping down in 2020.

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Yang Li, former chairman of CSSC (Hong Kong) Shipping, is under investigation for suspected corruption.
The probe follows another investigation into Xiong Jianfeng of China Development Bank Financial Leasing.
China’s ship-leasing assets doubled to about $104 billion between 2018 and 2025, with intensified competition.

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Who’s Who

CSSC (Hong Kong) Shipping Co. Ltd.: CSSC (Hong Kong) Shipping Co. Ltd. is a Hong Kong-listed state-backed ship leasing firm. Former chairman Yang Li (2013-2020) is under investigation for suspected corruption. The company expanded early and had a 2019 Hong Kong IPO. The probe follows scrutiny of China's ship-leasing sector, where assets doubled to $104 billion by 2025.

China State Shipbuilding Corp. Ltd.: Based on the article, China State Shipbuilding Corp. Ltd. (CSSC) is a state-backed parent company. Its former unit chairman, Yang Li, is under corruption investigation. CSSC (Hong Kong) Shipping, a subsidiary, expanded rapidly and had a 2019 Hong Kong IPO.

China Development Bank Financial Leasing Co. Ltd.: China Development Bank Financial Leasing Co. Ltd. is a Hong Kong-listed firm. In 2025, Xiong Jianfeng, an executive director of its shipping division, was investigated for suspected corruption, adding to scrutiny of China’s state-backed ship-leasing sector.

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