Date
24 November 2017
China aims to curb corruption and malpractices at state-owned enterprises, the Communist party's disciplinary chief Wang Qishan has reiterated. Photo: Bloomberg
China aims to curb corruption and malpractices at state-owned enterprises, the Communist party's disciplinary chief Wang Qishan has reiterated. Photo: Bloomberg

China graft-busters to inspect 26 state-owned firms

China will examine 26 centrally-administered state-owned enterprises (SOEs) in a new round of disciplinary inspection, authorities said on Wednesday.

National Nuclear Corp., National Petroleum Corp., Huaneng Group, State Grid Corp. and China Mobile will be among the firms covered in the latest inspection, Xinhua news agency cited Wang Qishan, secretary of the Communist Party’s Central Commission for Discipline Inspection, as saying.

While SOEs have played an important role in China’s public ownership economy and made great contributions to economic and social development, some problems have been uncovered in the administration of many enterprises, Wang said.

Some officials disobeyed the law to seek promotion via bribery, and problems have also been found in cadre selection, selling and buying positions and forming of cliques, the anti-graft chief said.

There have been cases of executives abusing their power, breaking procurement and bidding rules, seeking benefits for their offspring and ignoring the anti-graft “eight point” regulation, he said.

Inspectors have been told to find new ways to check up on key people, and key issues, to uncover various problems.

The first round of inspection will involve 13 teams, each covering two state firms. The inspections are expected to be a precursor to SOE reform. 

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CG/RC

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