China probes top exec at US$1.5 trillion state-backed investment firm for graft

China's anti-corruption unit is investigating a vice-president at China Citic Group, a state-run investment conglomerate. - ST PHOTO: LIM YAOHUI

BEIJING (AFP): A top executive at a major Chinese state-backed investment company is under investigation for corruption, the government's anti-corruption body said Sunday, as an unrelenting crackdown on graft sweeps through the finance sector.

Xu Zuo, vice president at China Citic Group, is "suspected of serious disciplinary and legal violations", the Communist Party's Central Commission for Discipline Inspection said in an online statement, without giving further details.