Head of China Telecom quits as probe starts
The head of China Telecom, one of the country’s big three telecommunications firms, has formally Chang Xiaobing had resigned as chairman, chief executive officer and executive director, China Telecom. PHOTO| Kwetu shy blog Shanghai. The head of China Telecom, one of the country’s big three telecommunications firms, has formally resigned his posts, the company said yesterday, three days after authorities announced he was under investigation. Chang Xiaobing had resigned as chairman, chief executive officer and executive director, China Telecom said in a statement to the Hong Kong stock exchange, where it is listed. The ruling Communist Party’s internal watchdog, the Central Commission for Discipline Inspection, said on Sunday that Chang was being investigated for “severe disciplinary violations”, which typically refers to corruption. Business magazine Caixin reported that Chang has already been detained and his “problems” relate to his tenure at China...