The Buzz | China Telecom chairman resigns amid corruption probe

The chairman of one of China’s three main state-owned phone carriers resigned yesterday following an announcement he is the target of an anti-corruption investigation.
China Telecom Ltd. chairman Chang Xiaobing is the latest in a string of dozens of executives at major state-owned companies to be detained or questioned in a steadily expanding, 3-year-old anti-graft crackdown led by President Xi Jinping.
Chang also resigned as chief executive, China Telecom announced. It said its chief operating officer, Yang Jie, would serve as chairman and CEO until a permanent replacement is named.