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Cosco exec arrested on corruption charges

China Cosco Holding's CEO has been arrested on charges of corruption. He becomes the fourth senior executive of the group to be arrested on similar charges.

According to several media reports, yet another Chinese shipping executive has been arrested on charges of corruption. This time, the man arrested is a senior executive of parent company China Cosco Holding named Xu Minje.

Media reports say that the executive was allegedly arrested on Tuesday, though it has not yet been possible to get in contact with Xu Minje, who failed to appear at the major annual Cosco conference, which took place in recent days in Chinese port city Ningbo.

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