Posted by: 1of10boyz | September 29, 2013

China state sector a honey pot for corrupt officials


When President Xi Jinping finally gets control of the processes in the government that allow this to happen, the greater challenge will then be to address the same issues in the private sector. It is the expectation rather than the exception in most cases with business in China.

China Daily Mail

In March last year, after getting government approval to go ahead with a $900 million refinery expansion in China’s southeastern Fujian province, state-run oil giant Sinopec Corp warned the team handling the project against taking bribes.

“Project engineering and construction has been a main area for corruption at Sinopec,” the Fujian unit of Asia’s largest refiner said in a blunt memo, according to a Sinopec source who read it to Reuters. “All members, especially those in key posts, must treasure their positions, stay guarded and resist temptation.”

The memo underscores what experts say is one of the biggest challenges facing President Xi Jinping and his drive to tackle corruption – rampant graft in engineering, procurement and construction contracts awarded by state firms.

Graft in the state sector has been acknowledged before but shot to the headlines recently when authorities stunned the energy industry with an investigation into five former…

View original post 1,080 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: