Sichuan official highest casualty of graft drive: report (2)

A company spokesman told the Global Times the stock performance had nothing to do with Li, despite media speculation.

Although not confirmed by the central government, the news soon aroused discussion across Weibo, with Web users applauding the efforts made to combat corruption by the newly-elected leadership after the 18th CPC National Congress.

A storm of efforts to fight corruption has swept China since the congress, Xinhua reported, adding that the sentencing of Chongqing's former Party chief Bo Xilai is the best evidence to prove that there is no place for corrupt officials.

"A series of quick and strong actions taken after the congress showed the determination of the Party's new leadership to fight corruption. This is encouraging," Jiang Ming'an, a law professor with Peking University told the Global Times.

On December 1, the local commission for disciplinary inspection in Shenzhen announced on its website that former vice mayor Liang Daoxing was under investigation on suspicion of a "serious disciplinary breach." The announcement came just four days after Liang's last public appearance at a sports event, and was praised by experts for its transparency and speed.