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China Cosco senior executive Xu resigns

China Cosco senior executive Xu resigns
The China Cosco senior executive being investigated for corruption, Xu Minjie, has quit the company.

In a brief statement Hong Kong-listed China Cosco said executive director Xu  had resigned for “personal reasons”. No reference was made to the corruption investigations.

Last week it was revealed that Xu was “under investigation by a relevant regulatory body.” At the time China Cosco said board would “assess the impact of the investigation on the group from time to time based upon the development of the investigation.”