Zhang Chunjiang is being investigated "due to suspected serious personal violations ," the company said in a statement issued through the Hong Kong stock exchange, where its shares are traded. It gave no details.

investors worried banks may need to make provisions against their exposure to Dubai debt , and Beijing may take further measures to rein in surging mainland property prices.The blue-chip Hang Seng Index fell

The Shanghai Composite Index .SSEC ended down 1.73 percent at 3,239.568 points, its lowest close in more than one week.The index has pulled back over the past two days after rallying to the top of a range between 3,100 and 3,350 points

China Minsheng Banking (1988.HK) made a disappointing debut, weighing on recently battered banking stocks

A record 4.24 million people are expected to travel in and out of Hong Kong for the May Day holiday , immigration officials in the city of 7 million said Monday. The figure, which will see an average of 276,000 people a day criss-crossing the Lo Wu land border with China, would be 16 per cent higher than for the same time in 2008.