China probes ex-boss of state-owned banking giant

THE former head of Chinese state-owned banking giant Everbright Group is under investigation for “severe violations” of the law, authorities said today, deepening an official crackdown on the country’s financial sector.

Li Xiaopeng – who previously served as Everbright’s party secretary and chairman – is being probed by Beijing’s anti-corruption watchdog, the Central Commission for Discipline Inspection (CCDI).