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THE national anti-corruption watchdog said Saturday that it had uncovered evidence of graft at China Petrochemical Corp., or Sinopec Group, warning the State-owned oil giant to take strong action to eradicate kickbacks, nepotism and theft.
Sinopec, the parent company of China Petroleum & Chemical Corp., must take steps to stop “power-for-money dealings” and prevent the loss of State assets, the Central Commission for Discipline Inspection (CCDI) said.
Some executives are suspected of corruption in areas of project construction, supply, sales, joint ventures, and overseas operations, the agency said in a statement on its website.
It also said businesses set up by families and relatives of managers have profited from their connections.
The statement quoted Sinopec chairman Fu Chengyu pledging to “take real and tough actions and severely punish corruption.”
The CCDI also said Friday two other big State-owned energy conglomerate has committed serious violations of regulations and accused unnamed officials in them of corruption, as part of an intensifying crackdown on graft in the country.
Officials at China Shenhua Group, the country’s top coal producer, have taken bribes and manipulated coal prices for personal benefit, CCDI said on its website.
“Some senior leaders have taken advantage of coal pricing power for personal gain and are suspected of serious disciplinary violations,” CCDI said.
In a separate report on its website, CCDI also faulted power group China Huadian Corp., alleging serious violations during takeovers of coal mines and appointment of officials, saying those actions had caused big losses of State-owned assets.
China has stepped up inspections, focusing on strategic firms, as it prepares to carry out its most ambitious reform of State-run industrial conglomerates in nearly two decades.
President Xi Jinping has warned that corruption is a threat to the Party’s survival and has vowed to go after powerful “tigers” as well as lowly “flies.”
(SD-Agencies)
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