State-owned firms ‘riddled with corruption’
Print Edition
China’s top graft-busting agency says the country’s powerful state-owned industries are “riddled with corruption” and nepotism, with the problem partly the result of the chaos of the “cultural revolution (1966-76).”
Over the past few months, anti-graft inspectors visited dozens of strategic central government-owned groups, where top executives hold the rank of deputy ministers.
In a statement, the Communist Party’s Central Commission for Discipline Inspection said the inspections had found certain leaders abusing their power and helping relatives for corrupt purposes.
“Some people embezzled state assets under the name of carrying out reforms, while others tried to corrupt senior officials, using illegally obtained state resources,” it said.
“Some are still breaking the rules, spending vast sums on luxurious holiday homes and taking their wives and children out golfing on the public dime,” the watchdog added.
Leaders at some state firms are ignoring procedures by deciding themselves who to promote and “forming cliques,” the statement said.
It said that the problem of nepotism could in part be traced back to the end of the “cultural revolution” more than 30 years ago, when many of the “educated youth” who had been “sent down” into the countryside came back to the cities to work, and were often placed with family members in state-owned firms.
“This created the problem left over from history of a concentration of family members,” the watchdog added.
It launched its anti-graft inspection targeting 26 firms, mostly energy and communication giants, in March.
Six major state-owned enterprises, including the China National Nuclear Corporation and China Nuclear Engineering Corporation, were scolded publicly for bribery, nepotism and management loopholes which led to loss of state assets, Xinhua news agency reported yesterday.
The watchdog praised the role of the state-owned sector in landmark economic reforms since the late 1970s, but said they had to fall in line.
“Leaders have forgotten that they are managing state firms under the Party’s leadership,” it said. “State-owned firm are not excluded from efforts to strictly manage the Party.”
Senior executives at automaker China FAW Group Corp, Baosteel Group and China National Petroleum Corp have all been put under investigation for corruption this year.
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