China's corruption watchdog said on Tuesday it is investigating one former and one current executive at Volkswagen AG's (VOWG_p.DE) Chinese venture FAW-Volkswagen for "seriously violating the law."

The announcement, posted on website of the Central Commission for Discipline Inspection of the Communist Party of China, identified the two as former deputy general manager Li Wu and Zhou Chun, deputy general manager of the joint venture's Audi sales division.

FAW-Volkswagen is one of the two car-making ventures the German automaker has in China.