China Telecom CEO Chang Xiaobing faces investigation for graft

Chang Xiaobing, chairman of China Telecom
Chang Xiaobing, former chairman of China Unicom and current chair of China Telecom, is being investigated for graft, authorities said on Sunday.

Chang was under investigation for suspected “severe disciplinary violations”, Xinhua cited the Communist Party of China (CPC) Central Commission for Discipline Inspection (CCDI) as saying.

China’s CPC under President Xi Jinping’s leadership has been targeting senior government officials to eliminate corruption in high places in the country.

The spokesperson of China Telecom said: “According to the information disclosed on the website of CPC Central Commission for Discipline Inspection and Ministry of Supervision, Chang Xiaobing, the former chairman of China United Network Communications Group Company and the existing chairman of China Telecommunications, the parent company of the company, is currently under investigation by the relevant authorities for suspected serious disciplinary violations.”

Chang Xiaobing is the chairman of the Board and chief executive officer of China Telecom. The company currently maintains normal business operations. China Telecom will make further announcement(s) as and when appropriate in accordance with the requirements under relevant laws, regulations and the listing rules.