Alexa

China Mobile's deputy chairman is investigated

China Mobile's deputy chairman is investigated

China Mobile Ltd., the world's biggest phone company by subscribers, said yesterday its deputy chairman is under investigation for unspecified offenses, adding to a string of scandals at major Chinese state-owned companies.
Zhang Chunjiang is being investigated "due to suspected serious personal violations," the company said in a statement issued through the Hong Kong stock exchange, where its shares are traded. It said he was being investigated by "relevant authorities" but gave no other details. China Mobile's press office did not immediately respond to requests by phone and e-mail for more information.
A series of executives at major state-owned companies have been targeted for investigation of corruption and other offenses that are fueling public anger. Thousands of government and Communist Party figures are punished every year for corruption, and some are executed, but authorities have given no indication whether the problem is abating.
In July, the former chairman of Sinopec Ltd., China's second-biggest oil company, was convicted of taking 196 million yuan (US$29 million) in bribes. The following month, the former boss of the company that runs airports in Beijing and other Chinese cities was put to death for taking bribes. Zhang is secretary of the party committee for China Mobile's parent company, which gives him greater influence over the company than his corporate post. Such committees can dictate overall strategy for state-owned companies.
Zhang joined China Mobile in May 2008 after serving as chairman of China Netcom Ltd., a fixed-line carrier that was merged with another phone company in an industry overhaul last year. He also is a former director of the telecoms department of the Chinese ministry that oversees the industry.