Wu Jianrong, chairman of the Shanghai Airport Authority, was under investigation by the government’s top graft investigation, becoming the latest high-level official of a state-owned enterprise to be suspected of corruption.

File photo: VCG

Wu is being probed on suspicion of “violating party discipline and laws,” the Shanghai branch of the Central Commission for Discipline Inspection (CCDI) said Monday in a brief statement. The commission didn’t elaborate on what misconduct is suspected, but the phrase often refers to corruption.

The Shanghai Airport Authority is the state-owned airport operator in Shanghai, China’s financial hub. The authority operates Pudong and Hongqiao airports in the city and is the controlling shareholder of Shanghai-listed Shanghai International Airport Co. Ltd. The company’s shares tumbled nearly 8% on the news.

Wu, 56, was a veteran of the Shanghai bureaucracy before he was appointed to the airport authority in 2017.