More anti-graft steps needed to regain trust

Though Chinese companies have strengthened their anti-fraud and anti-corruption policies after the nationwide anti-graft campaign started in 2013, they still need to do a lot more to regain their employees' trust, a new report said on Wednesday.

The study, conducted by global consultancy firm Ernst & Young, highlighted the need for companies to plug the loopholes in policy enactment and enforcement. EY said its findings are based on responses from 1,508 companies across Asia, including 250 from the Chinese mainland.

It found that companies now have a much higher perception about compliance than before, with the need for stricter rules to curb unethical behavior like fraud and corruption. In China, about 66 percent of respondents said their companies had been influenced by the ongoing anti-graft campaign.