Finance
China’s Banking Crackdown Picks Up Pace With Fresh Probe
- Everbright Group ex-chairman suspected of violating law
- Authorities warned top bankers of corruption clampdown
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Chinese authorities have launched a probe into the former chairman and party chief of state-owned China Everbright Group, the latest sign that the country’s crackdown on corruption in the financial sector is picking up pace.
Li Xiaopeng is suspected of “serious violations of discipline and law,” the Central Commission for Discipline Inspection and the State Supervision Commission said in a one-sentence statement.