China investment executive Xu Xiang indicted for securities fraud

QINGDAO -- Xu Xiang, general manager of the Shanghai-based company Zexi Investment, has been indicted for allegedly manipulating the securities market, the People's Procuratorate of Qingdao City said Thursday.

The prosecutors filed the case, involving Xu, several others and chairpersons of the board of directors of relevant listed companies, in the city's Intermediate People's Court.

The Ministry of Public Security announced Xu was under investigation in November last year.