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China Telecom Chairman Resigns Amid Corruption Probe

FILE - Then Chairman of China Unicom Ltd. Chang Xiaobing speaks at a press conference to announce the company's 2013 earnings in Hong Kong, Feb. 27, 2014. Chang stepped down from his post as chairman of China Telecom after it was announced he is under investigation.

A major Chinese telecommunications company says its chairman has resigned following an announcement that he is under investigation by the country's anti-corruption agency.

China Telecom Ltd., one of the country's three main state-owned phone companies, said Wednesday that Chang Xiaobing resigned effective immediately. Its chief operating officer, Yang Jie, was named to fill the post until a new chairman is appointed.

The Chinese anti-graft agency said Sunday that Chang was suspected of “serious violations,” its term for corruption.

Dozens of executives of state-owned companies have been charged or questioned in a 3-year-old anti-corruption crackdown.