ICYMI – Liu Chong, chairman of Shanghai and Hong Kong listed Cosco Shipping Development Co. Ltd., has been detained by authorities for investigation. Chinese media had the report over the weekend. Details are sparse: COSCO Shipping Development, the finance and leasing arm of the world’s largest shipowner, COSCO, said in a filing earlier this week
Earlier this week Li Xiaopeng, former party chief and chairman of China Everbright Group, was expelled from the Chinese Communist Party (CCP) and his post. Reasons cited were severe violations of party discipline and Chinese laws including accepting bribery, illegally holding stakes in non-listed companies, and power abuse. The talk is now he is to
