AsianFin--Hu Xin, a director at Chinese property developer Greenland Holdings, is under investigation by Shanghai's top anti-corruption watchdog.

Greenland announced on Wednesday that Hu, who also serves as the vice chairman of the company, is under disciplinary review and supervisory investigation by the Shanghai Municipal Commission for Discipline Inspection due to suspicions of serious violations of discipline and law.

Since 2021, Hu has concurrently held the position of vice president at Shanghai Municipal Investment Group while serving at Greenland, though he has not been involved in the daily operations and management of the former, the developer stated. The company emphasized that the investigation will not significantly impact its production and business activities.

Shanghai Municipal Investment Group, which owns a 21 percent stake in Greenland as of the end of last year, is the company's third-largest shareholder. Hu previously worked at the Shanghai Water Conservancy Engineering Design & Research Institute.