China Investigating Senior Executive at CSIC
China's anti-graft agency said on Saturday it is investigating the general manager of state-owned China Shipbuilding Industry Corp (CSIC).Sun Bo is suspected of serious disciplinary and legal violations, the Central Commission for Discipline Inspection (CCDI) said on its website.(Reporting by Andrew Galbraith; Editing by Adrian Croft)
China Probes Executives of CSIC, COSCO
China Shipbuilding Industry Corporation (CSIC) and China Ocean Shipping Company (Cosco) are being probed in China’s national anti-corruption scheme, according to a report in the Reuters. The Central Commission for Discipline Inspection (CCDI) has not named any company executives as targets for individual inspection. CCDI is the highest internal-control institution of the Communist Party of China (CPC). The watchdog did not name any executives as targets for individual inspection in its statement, but said it warned companies against transgressions such as nepotism, wasteful spending and improper bidding on contracts. However, IHS Maritime…
China Investigating Former Ningbo Port Chairman
China is investigating the former chairman of Ningbo Port Group, manager of one of the world's busiest ports, the country's top graft-busting body said, naming the latest target of an anti-corruption drive ordered by President Xi Jinping. Xu Huajiang, who resigned from the firm last month, is being investigated on "suspicion of serious violations of the law", according to a brief statement by China's Central Commission for Discipline Inspection (CCDI) on its website on Monday. In China, "serious violations of the law" usually connotes graft. The CCDI did not provide additional details. Ningbo Port is the world's sixth busiest based on 2013 container throughput volume, according to the World Shipping Council.
