Everbright Ex-Chief in 'Disciplinary Violations’ China Probe

China’s anti-graft watchdog is investigating Li Xiaopeng, the ex-chairman of state-owned financial conglomerate China Everbright Group, over alleged serious “disciplinary violations”, it was revealed on Wednesday.

The one-line statement was posted on the website of the Central Commission for Discipline Inspection (CCDI) and comes less than two weeks after Everbright said Li had resigned from his post.

The firm is involved in asset management, investment banking and credit card services and also operates in securities, insurance and futures.

Reuters could not reach the company for comment as it was closed for a public holiday.

Reuters with additional editing by Sean O’Meara

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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.