Date
23 May 2017
China Telecom chairman Chang Xiaobing is the latest senior company official to be caught in the anti-graft crackdown. Photo: Bloomberg
China Telecom chairman Chang Xiaobing is the latest senior company official to be caught in the anti-graft crackdown. Photo: Bloomberg

China Telecom head detained by anti-graft regulator

The chairman of China Telecom Corp. (00728.HK), Chang Xiaobing, has been detained on suspicion of “severe disciplinary violations”, China’s anti-graft watchdog said, using a euphemism for corruption.

The move is part of Chinese President Xi Jinping’s continuing crackdown on graft, which has now focused on the country’s state-owned enterprises.

Chang, 58, is the former chairman of the country’s second-largest mobile operator China Unicom Ltd. (00762.HK), the Wall Street Journal said, citing a statement posted on the website of the Central Commission for Discipline Inspection, the Communist Party’s anti-graft agency.

He assumed the top post at China Telecom in August.

In a stock market filing on Sunday, the company said its operations remain normal. China Telecom is the country’s third-largest mobile operator in terms of number of subscribers.

Chang’s detention comes amid a widening probe into top executives of state-owned firms.

Among those placed under investigation were Jiang Jiemin, former chairman of China National Petroleum Corp., and Xu Jianyi, chairman of FAW Group Corp., China’s third-largest carmaker by sales.

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