Top Chinese Company Bosses Try to Atone After Bribery Allegations – China Real Time Report – WSJ

Acts of contrition allow disciples of the Roman Catholic Church to atone for their sins. Something similar may be saving souls in China’s Communist Party.

Mobile phone company China Unicom acknowledged findings published Thursday by the party’s official anti-graft agency that salacious acts of corruption gushed from its corporate suite, including abuse of power and bribery with sex as the currency.

Similar allegations have toppled government officials and corporate executives across China in the past two years, reflecting President Xi Jinping’s pledge that the party faithful will “remain resolute in wiping out corruption and show zero tolerance for it.”

Yet no one appears to be facing public reprimand at Unicom and a clutch of other state-run companies and government bureaus that the party this week accused of party discipline problems.

It’s unclear whether the fact no one is being publicly fingered for the problems atop key state-run companies suggests the party is satisfied the public shaming is enough punishment or whether it’s lightening its approach to violations. But what’s clear is the officials running the businesses have spent time in the party’s version of a confessional booth

The fresh allegations against powerful state-run organizations were published late Thursday by the party’s Central Commission for Discipline Inspection, which it said were the result of a round of investigations that began in November. Similar probes of state-run companies and government bureaus have continued regularly since Mr. Xi rose to power at the 18th Party Congress in late 2012. The commission last month said that an inspection of all top state-owned enterprises will be among its priorities for this year.

In addition to catalogue of problems at Unicom, the inspections found top officials at coal giant China Shenhua Energy Co. abused market power to gain “black gold,” leaders of China State Shipbuilding Corp. did illegal business and relatives of top cadres engaged in similar malfeasance at carmaker Dongfang Motor Corp. As well, the inspectors said they unearthed buying and selling of positions at power generator China Huadian Corp., as well as poor controls that caused loss of state secrets. The inspectors likewise cited discipline failings at state broadcaster China Radio International.

The anti-graft agency’s statements on each organization quoted their Communist Party leaders, including Unicom Chairman Chang Xiaobing, expressing contrition about failings at their groups and pledging to rectify the problems. The statements about the individual companies each include photos of top company officers in boardrooms discussing the findings and meeting with employees to address the problems. The statements quote officials pledging to honor Mr. Xi’s principles of party discipline.

via Top Chinese Company Bosses Try to Atone After Bribery Allegations – China Real Time Report – WSJ.

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