China Telecom gets new chairman after ex-head resigned amid investigation

[BEIJING] China's state assets supervisor said on Monday a new chairman had been appointed for the parent of state-run China Telecom Corp, after its previous chairman resigned amid investigation for alleged disciplinary violation.

General Manager and acting head Yang Jie will become chairman of the firm, according to the official microblog of the State-owned Assets Supervision and Administration Commission (SASAC).

China Telecom said in December that former Chairman and Chief Executive Chang Xiaobing had resigned, just days after the ruling Communist Party's anti-corruption watchdog said he was "suspected of serious violation of discipline".

A Hong Kong-based China Telecom spokeswoman could not be reached by phone on Monday for immediate comment.

Shares of China Telecom were down 1.18 per cent during Hong Kong's mid-day trading break, compared with a 0.51 per cent rise in the benchmark Hang Seng Index.

REUTERS