Ex-chairman of China Everbright Group Li expelled from Communist party and post (updated)

China Everbright

09/10/2023 04:06

(Adds details, background)
       BEIJING, Oct 9 (Reuters) - Former party chief and
chairman of China Everbright Group Li Xiaopeng was expelled from
the Communist Party and his post for severe violations of
discipline and law including bribery, Chinese state broadcaster
CCTV reported on Monday.
    Li is the latest Chinese financial executive found guilty
under President Xi Jinping's anti-corruption campaign that has
in recent years targeted the country's financial institutions.
    China's anti-graft body said in April that Li was under
investigation for possible law violations.
    The probe found that Li accepted bribes, illegally held
stakes in non-listed companies, and misused power to grant loans
and business contracts in exchange for money, according to CCTV.
    Li's punishment came days after China's ruling Communist
Party expelled the former chairman of Bank of China from the
party, accusing him of illegal activities and taking bribes.
    China Everbright Group is one of China's biggest financial
conglomerate and owns listed units including China Everbright
Bank Ltd  601818.SS , Everbright Securities Co  6178.HK 
 601788.SS  and China Everbright Ltd  0165.HK . 

 (Reporting by Beijing newsroom; Editing by Jacqueline Wong and
Lincoln Feast.)
 ((Albee.Zhang@thomsonreuters.com;))