Former executive being probed

Beijing: Chinese authorities put a former general manager of a local asset management firm under investigation, as the Communist Party further tightens oversight of the financial sector ahead of a key congress next month.

Ao Chengwen, former general manager and Communist Party chief of Shenzhen-based Lion Fund Management Co, is being probed for alleged severe violations of party disciplines and law, the city’s anti-graft agency said in a statement posted on its WeChat account.