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CSIC investigated by China’s anti-corruption team

CSIC investigated by China’s anti-corruption team
China Shipbuilding Industry Corporation (CSIC) is the latest state-owned corporation to get probed by China’s anti-corruption investigation team, following earlier investigations on two other state-run shipping groups.

The central anti-corruption inspection team has opened its probe into CSIC last Friday, in line with Beijing’s ongoing drive to flush out malpractices in state-run corporations.

Tong Yancheng, leader of the investigation team for CSIC, pointed out that the government remains committed to stamp out corruption activities and it will not hesitate to bring those offenders before the law.

The investigation of CSIC will continue over the next two months.

Li Changyin, president of CSIC, has pledged to cooperate with the anti-corruption investigation team.

Last month, anti-corruption investigation teams have separately probed into China Shipping Group and China State Shipbuilding Corporation (CSSC).

At China Shipping Group, the investigation team found unlawful spendings of company funds by senior officials for personal benefits.

At CSSC, corruption activities were uncovered in the procurement department involving illegal means of obtaining favours and bribes.