CNPC anti-corruption chief detained

Several China National Petroleum Corporation (CNPC) officials were recently detained, including anti-corruption chief Wang Lixin, South China Morning Post reported, citing Chinese news outlet Caixin. CNPC was placed under investigation in August of last year for alleged violations of Communist Party discipline, and has since seen ten high-level officials be detained, ranging from vice president to chief geologist, and now its anti-corruption chief. These events appear to have had little effect on the stock value of CNPC’s listed company, PetroChina (PTR.NYSE, 0857.HKG), which saw a 0.5% gain yesterday.