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Former CEO of China Everbright’s financial arm under investigation by Communist Party’s anti-corruption body
- Chen Shuang, who resigned as CEO of China Everbright Limited in 2019, is being investigated for ‘suspected violations of the law’
- He is a justice of the peace, and a member of the Financial Services Development Council of Hong Kong (FSDC)
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The former boss of the financial services arm of China Everbright Group, a state-owned conglomerate, has been placed under investigation by the Central Commission for Discipline Inspection (CCDI), the country’s top anti-corruption watchdog.
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Chen Shuang, who resigned as CEO of China Everbright Limited in 2019, is being investigated for “suspected violations of the law”, the CCDI announced in a one-line statement on Tuesday.
The CCDI, the highest internal control body of China’s Communist Party, did not elaborate on the reasons behind its inquiry or the potential penalties that Chen faces.
The 55-year-old, a member of the Communist Party since 1987, joined China Everbright Holdings in February 2001, according to the CCDI.
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Chen held positions including CEO, chairman of the management decision committee and executive director at the Hong Kong-listed firm before announcing his resignation in May 2019, according to a stock exchange filing.
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