CSSC commits to tighten control over corruption

The anti-corruption team from Central Commission for Discipline Inspection (CCDI) started probing CSSC in early February this year, after allegations of corruption activities were uncovered largely at the company’s procurement department.

In the lengthy report issued by CSSC on Tuesday, the state-owned firm said it has started its own internal reshuffling and monitoring works since the investigations.

The investigations centred around illegal means of obtaining favours and bribes around the procurement department, as well as senior officials alleged to be involved in malpractices and shady acquisition deals.

Among the measures to be taken by CSSC to curb malpractices include a plan to dispose of 44 affiliate companies with a total value of RMB428m ($69m) by the end of 2015, as part of the group’s internal restructuring and to eliminate gaps for corruption within the existing loose structure.

The group has also made management reshufflings by letting go of five senior officials who have reached their retirement age, recommending a next generation of leaders, and changing appointments at some departments.

“At present, CSSC has achieved a small measure of success to stem out corruption, but progress is still at an initial stage. The next step is for the management to strictly monitor malpractices and enforce tighter policies, in order to complete the internal restructuring to the highest standards,” CSSC stated.