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CSSC commits to tighten control over corruption

China State Shipbuilding Corporation (CSSC) has spelled out details on stamping out corruption following the completion of investigations made by the government’s central anti-corruption bureau.

Lee Hong Liang, Asia Correspondent

May 6, 2015

1 Min Read
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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.

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About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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