Greater ChinaShipyards

CSSC retrieves $9.67m of corruption losses

China State Shipbuilding Corporation (CSSC), one of two major state-run shipbuilding conglomerates in China, has completed a new round of internal inspections into affiliate companies in a move to rectify various discipline issues within the group.

According to CSSC, the group has inspected a total of 44 affiliate companies and 16 departments in headquarters in a three-month inspection. During the inspection, 151 employees received punishment and 924 employees received warnings. Additionally the group has retrieved financial losses of RMB62.25m ($9.67m) via the inspection.

China’s anti-corruption sweep of state-run companies has taken down several officials at shipbuilding companies. In November 2017, Gu Tiquan, former president of CSSC-affiliated Hudong Zhonghua Shipbuilding was sentenced to jail for 13 years for corruption charges.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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