Sunday, China Mobile Ltd. (CHL) announced that its Board of Directors notified yesterday that Zhang Chunjiang, vice chairman and an executive director of the company is currently under investigation by authorities due to suspected serious personal violations.
According to a report in the Wall Street Journal, the company which is the world's largest cellular carrier by subscribers as of 2009, said that Chunjiang is being investigated for breach of conduct related to personal reasons. The report also said that this is the latest probe into alleged wrongdoing by an executive to disturb a state-owned enterprise.
China Mobile provides the world's largest mobile network with more than 508 million subscribers and is the largest Chinese company listed overseas. It is listed on both the New York Stock Exchange and the Hong Kong Stock Exchange.
CHL closed Friday's last trade on the New York Stock Exchange at $44.92, down $0.13 or 0.29%.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.