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China seeks to curb corruption in big SOEs
Updated: 2005-01-24 23:52

China is seeking to end corruption in large state-owned enterprises(SOE), a senior official with the State- owned Assets Supervision and Administration Commission (SASAC) said here Monday.

Huang Danhua, secretary of SASAC discipline inspection commission, said at a meeting that some leading officials in big state companies do not abide by discipline and rules set by the Communist Party of China (CPC) Central Committee.

Some, she said, misuse their power for their relatives to gain advantages, some violate decision-making mechanisms and cause losses to their companies, some embezzle state assets in management buyouts or state assets transactions and some take bribes.

SASAC is attaching great importance to those problems, which " stain the image" of big state companies, Huang said.

She said SASAC is trying to improve its discipline inspection mechanism and will enforce it at the big state companies, which are directly controlled by the central government.

A modern corporate system in accordance with international practice will help prevent corruption, she said.

Mandated by the State Council, SASAC supervises and controls 181 state companies.

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