A senior executive at China’s largest shipping company is under investigation for corruption as Beijing spreads its anti-graft probe, Reuters reported. COSCO on Thursday said in a statement to the Shanghai stock exchange that vice president Xu Minjie was “under investigation by the relevant authorities.” It gave no details other than to say the move would not have a big impact on the company, whose operations it said were continuing as normal. Xu is believed to be the first person from China’s shipping industry to be caught up in Xi’s crackdown. Xu is a shipping industry veteran of more than three decades.
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