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 Unicom, another
of the country’s thee major telecom
companies.

“China Unicom executives accepted money
and sex in return for influencing matters such
as contract negotiations with suppliers and
personnel promotions,” the magazine
reported.