(Xinhua News Agency, Feb. 4, 2016. Complete text:) Beijing - China's top disciplinary body warned of corruption risks after finishing inspections at 31 state entities on Thursday [Feb. 4], including around 20 centrally-governed financial institutions.
The Communist Party of China (CPC)'s Central Commission for Discipline Inspection (CCDI) kicked off the third round of inspections in 2015 covering several central government organs, such as the Ministry of Education and National Bureau of Statistics (NBS), and major financial institutions including the central bank, securities regulators, state-owned banks and insurance companies last October.
Major problems plaguing the entities uncovered through the inspections include corruption, 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 the inspection at the China Securities Regulatory Commission, the team dispatched by the CCDI discovered loopholes in its mechanisms for preventing corruption risks and conflicts of interest, which are likely to breed corruption, said a CCDI statement.
The inspection uncovered problems of interests tunneling and seeking personal gains through abuse of powers in 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 leading 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 put under investigation 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 over the implementation of its follow-up ...
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|Article Title||CCDI Warns of Corruption Risks After Inspections|
|Source||Current Digest of the Chinese Press, The, No.5, Vol.5, February 01, 2016, page(s):3|
|Place of Publication||Minneapolis, USA|