Huawei’s (002502.SHE) chief executive Ken Hu has confirmed an internal investigation into corruption at the telecoms company following reports from Caixin and First Financial Daily, The Financial Times reported. However Hu refused to confirm the details of the reports, instead insisting that the investigation was a routine annual event. Since 2005, Huawei employees have been made to take a yearly oath against corruption. The previous reports had said that 116 employees and 69 distributors were caught up in the probe, with the sums of money involved reaching up to hundreds of millions of RMB. The investigation comes at a time when corruption is a hot-button topic in China amid a government-led crackdown.
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