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China scolds six more state firms after anti-graft inspection

Xinhua, June 17, 2015 Adjust font size:

China's top anti-corruption watchdog publicly criticized six more major state-owned enterprises on Wednesday after inspections uncovered corruption and discipline violations.

China National Nuclear Corporation, China Nuclear Engineering Corporation, Dongfang Electric Corporation, China Electronics Technology Group Corporation, China Electronics Corporation and China General Technology Group were all named in a statement released on Wednesday.

All the six firms have management loopholes leading to loss of state assets, especially overseas assets, according to a statement from the Communist Party of China's Central Commission for Discipline Inspection (CCDI). Commercial briberies and nepotism were also commonly seen.

The CCDI started a disciplinary inspection targeting 26 state firms in March, focusing on the nation's energy and communication giants. It began publicizing inspection results this month.

It criticized wrongdoings by six companies including the China Huaneng Group and Baosteel Group on June 12 and lambasted another nine on June 16 including China National Petroleum Corporation and China National Offshore Oil Corporation.

Inspection results of the rest five are expected to be released in the coming days.

Among the six, the two nuclear giants have breached several financial practices and put some investment projects and overseas branches in operation risks due to lack of field survey and management.

Some leaders of the Dongfang Electric Corporation, mainly those in charge of material procurement, received bribes from suppliers.

The China Electronics Corporation lacked supervision over overseas capitals and some leaders abused power and colluded with "personnel from outside" to swindle state assets, the statement said. Endit