The probed SOE executives are largely from firms in energy, communication, transportation and machine manufacturing, with 39 percent of the total number from energy enterprises, the Communist Party of China’s (CPC) Central Commission for Discipline Inspection (CCDI) said in a statement.
Anti-graft inspection teams were sent to SOEs by the central authority starting from 2013 and have covered all 55 centrally-administrated SOEs in the past two years.
“The outstanding problems with SOEs include weakened Party leadership over the firms, abuse of power in exchange for illegal profit, personnel selection and promotion, as well as undesirable work and life styles,” it said.
Wang Tianpu, former general manager of oil giant China Petroleum and Chemical Corporation (Sinopec Group), who was put under investigation in April 2015, was found to have taken bribes, offered benefits in exchange for his own promotion and embezzled public assets. Enditem