Nine Chinese SOEs slammed for discipline violations

China's chief graft-buster lambasted nine state-owned enterprises (SOEs) on Tuesday for breaching the anti-graft regulations, listing a string of problems from traveling on public funds to stealing state assets.

Leaders of all the nine SOEs, including the China National Petroleum Corporation (CNPC), were scolded for lacking of awareness of conforming by Party disciplines and rules, nepotism and forming cabals by employing family members or acquaintance, according to a statement from the Communist Party of China's Central Commission for Discipline Inspection (CCDI).

Most of the nine companies have violations such as spending public funds on personal travel, shopping and entertainment, receiving expensive gifts and "chaotic" financial management.

The CCDI started in March a disciplinary inspection targeting 26 SOEs, mainly the nation's energy and communication giants and has since publicized inspection results regularly.

On June 12, it publicly criticized wrongdoings by six companies including the China Huaneng Group, China Shipbuilding Industry Corporation and Baosteel Group.

The CNPC had never stopped holding back public funds in its "private coffers" after being warned for many times, and corruption risks was also found in its overseas investment projects, the statement said.

The China Power Investment Corporation, State Nuclear Power Technology Corporation and State Grid have serious problems in projects bidding and material procurement. Some of their leaders abused power and often intervened in such affairs after taking briberies.

Certain subordinate units of the State Grid spent huge amount of money buying luxury handicrafts and displayed them in office, it said.

The China National Offshore Oil Corporation has made use of offshore oil resources to seek private profits and certain leaders even work for other companies while receiving salaries in the company.

The China National Machinery Industry Corporation falsified the company's financial records and gave extremely high cash bonuses to the staff.

Extravagance and waste problems are prominent in the China Southern Power Grid and China Telecom, the statement said, mentioning their extra-standard buildings and vast offices with luxury decoration.

For the China Mobile, the statement said, corruption was concentrated on overseas projects, with some leaders forming family cabals to encroach on state assets. Endi