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Six large SOEs criticized for discipline violation
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SIX centrally-administered state-owned enterprises (SOE) have been publicly criticized for violating the anti-graft regulations, China's chief graft-buster said on Friday.
These SOEs include China Huaneng Group, China State Construction Engineering Corporation, China Shipbuilding Industry Corporation, COSCO Group, Baosteel Group and Wuhan Iron and Steel Corporation.
The Communist Party of China's Central Commission for Discipline Inspection (CCDI) started in March the first round of disciplinary inspection for 2015 which covered 26 centrally-administered SOEs.
Some officials of the SOEs had failed to run the companies properly and disobeyed the law and discipline to seek personal favors and pleasure, said the CCDI.
Their wrongdoings include travel at public expenses, playing golf with public funds, extravagant spending at private clubs, high-profile wedding and funeral ceremonies, and gift giving and taking with public money, among other malfeasance.
Problems have also been found in promoting cadres who already committed malpractices, illegal profit seeking for relatives and friends, and serious mistakes in decision making, the CCDI said.
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