Former Chairman of Guangzhou Port Placed in Custody

Guangzhou seen from the water
Updated Published

Li Yibo, previously serving as the chairman of Guangzhou port, is now under the custody of anti-corruption officials. The financial news outlet Caixin disclosed that the port's management is probing into the construction endeavors undertaken while Li was in office.

His detention occurred at the beginning of the current month, and on April 3, Guangzhou Port, which is listed on the Shanghai stock exchange, announced that Li had stepped down citing "personal reasons."

The anti-corruption drive in China has ensnared numerous individuals within the maritime sector, especially those involved in ship leasing.