Deputy General Manager of China Taiping Falls under Probe

China’s top anti-corruption watchdog has opened an investigation into Xiao Xing, the deputy general manager of the state-owned China Taiping Insurance Group Co. Ltd. Sources said the probe on Xiao is part of a recent graft crackdown that has unsettled the officialdom in Shanghai.

Xiao, 51, has been placed under investigation “on suspicion of serious violations of discipline and law,” the Central Commission for Discipline Inspection (CCDI) said in a brief statement Tuesday. The graft buster didn’t specify Xiao’s alleged violations, but the phrase often refers to corruption.