China completes anti-corruption probe at state-owned shipyards and carriers

China completes anti-corruption probe at state-owned shipyards and carriers

Athens: China Shipbuilding Industry Corporation (CSIC) and China Ocean Shipping Company (Cosco) are among the latest state-owned companies to be probed in China’s national anti-corruption scheme.

Li Changyin, president of CSIC, and Ma Zehua, president of Cosco Group, said in March they would coordinate with investigation team and provide full assistance.

The Central Commission for Discipline Inspection (CCDI) has not named any company executives as targets for individual inspection, Reuters reports.

The agency has, however, issued warnings to companies on actions such as nepotism, wasteful spending and improper bidding on contracts.

The inspections are part of a two-year-long scheme in which CCDI will inspect important state-owned companies and financial institutions. CCDI brought down than 70 senior officials at various firms during 2014.

China State Shipbuilding Corporation (CSSC), China Shipping Group and energy giant PetroChina have already been inspected.

 

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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