SASAC (state-owned assets supervision and administration commission) said in its website on Monday that its investigations showed that Xu had taken advantage of his former position at Cosco to make false company claims for personal expenses, constituting a "serious violation of the law in accordance with the relevant provisions of the Chinese Communist Party Disciplinary Regulations".
The alleged crimes and investigation results have been transferred to the judiciary organs for further actions, SASAC said.
Xu resigned from Cosco in November last year after he was investigated by the authorities for alleged corrupt practices, Cosco had announced.
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