Disciplinary body warns of corruption risks
Print Edition
CHINA’S top disciplinary body warned of corruption risks after finishing inspections at 31 state entities, including around 20 centrally governed financial institutions.
The Communist Party of China’s Central Commission for Discipline Inspection kicked off its third round of inspections in October 2015, covering several central government organs, including the Ministry of Education and the National Bureau of Statistics, and major financial institutions such as the central bank, securities regulators, state-owned banks and insurance companies.
Major problems plaguing the entities uncovered by inspectors include corruption, the weakening of the Party’s leadership, and procedural violations in personnel selection and placement, according to the findings released by the CCDI on Thursday.
During an inspection at the China Securities Regulatory Commission, the team dispatched by the CCDI found loopholes in its mechanisms for preventing conflicts of interest that are likely to breed corruption, said a CCDI statement.
The inspection uncovered problems relating to abuse of power at China Construction Bank.
“Corruption risks exist in centralized purchasing and financial management,” the statement said.
The inspection team dispatched to China Life, the country’s largest insurer, found that “the company’s local branches frequently violate laws and regulations,” and “the discipline violations around the public, like fundraising fraud, had a bad impact.”
Some senior cadres in the NBS were found “seeking personal gains through abuse of powers including data fabrication,” said the statement.
Wang Baoan, head of the NBS, was investigated for “severe disciplinary violation,” the CCDI announced last month.
The inspection discovered corruption risks in the Executive Office of the Three Gorges Project Construction Committee of the State Council, due to poor supervision of the implementation of its follow-up projects. Also, tunneling of interests is also suspected to exist in excess project outsourcing.
The findings showed that over half of the inspected entities, including the People’s Bank of China, the central bank, Industrial and Commercial Bank of China, the Ministry of Education, and the China Banking Regulatory Commission have violated the CPC’s frugality code.
The inspections found that weakening of the Party’s leadership is a general problem.
The statement said the Communist Youth League Central Committee “has not studied the spirit of the CPC’s conference on improving mass organizations in-depth and translated it into daily work ... Has not resolutely carried out reforms and innovation ...”
The CPC committee of CITIC Group Corporation, a major financial conglomerate, was found to be “talking about business too much while seldom talking about the Party.”
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