BEIJING (AFP) – The former head of Chinese state-owned banking giant Everbright Group is under investigation for “severe violations” of the law, authorities said yesterday deeping an official crackdown on the country’s financial sector.
Li Xiaopeng – who previously served as Everbright’s party secretary and chairman – is being probed by Beijing’s anti-corruption watchdog the Central Commission for Discipline Inspection (CCDI).
He is “under investigation for suspected severe violations of party discipline and laws”, a statement by the commission said.
Trained as an economist, Li has spent most of his career in the finance industry.
He served in leadership positions at several major Chinese banks, before retiring from the chairmanship at China Everbright in March 2022.
The CCDI in March said it would launch an “inspection tour” targetting 30 state-owned-enterprises, including China Everbright Group and other major players in the country’s financial sector.
