China investigates executives of state-owned energy and finance companies

They join growing list of cadres and business leaders under probe since Xi Jinping called for corruption crackdown in key industries

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Chinese President Xi Jinping (centre) has called for the country’s anti-corruption watchdog to target sectors where “power is centralised with abundant funds and rich resources”. Photo: Xinhua

Published: 9:00pm, 3 Aug 2024

Four current and former senior executives of China’s state-owned enterprises in sectors including finance and energy have been placed under investigation for alleged corruption.

They are Zuo Zuqing, deputy director of the state-run China National Nuclear Corp’s capital operational centre; Chen Xiaopeng, former party secretary and director of the China Securities Regulatory Commission’s Shenzhen branch; Dong Guoqun, Shanghai Stock Exchange party committee member and deputy general manager; and Yuan Fei, former party secretary for the Banking Regulatory Commission for the city of Dalian.

They are under investigation for alleged “serious violations of discipline and laws”, the Central Commission for Discipline Inspection (CCDI), the country’s top anti-graft watchdog, said in separate statements released on Friday and Saturday.

No details of the cases have been revealed.

Dong joined the Shanghai Stock Exchange in 1996 and was less than a year away from retirement, according to local media.

The list of party cadres and corporate executives suspected of corruption has grown since Xi Jinping’s speech at a CCDI plenary session in January, when he called for a crackdown on corruption in sectors where “power is centralised with abundant funds and rich resources”, including finance, state-owned enterprises, energy, medicine and infrastructure projects.