Big Chinese fish trapped in CCI net

Leading legal experts have called for the latest corruption scandal involving Chinese companies to be used as the launch pad for a crackdown on bribery in the industrial sector.

The US Department of Justice (DOJ) recently said that US-based valve maker Control Components Inc had pleaded guilty to federal charges and admitted to paying bribes to officials and employees of various foreign state-owned companies as well as foreign and domestic private companies.

Chinese companies that are believed to have been trapped in the bribery net include PetroChina, China National Offshore Oil Corp, Jiangsu Nuclear Power Corp, Guohua Electric Power, China Petroleum Materials and Equipment Corp and Dongfang Electric Corp.