China makes state companies guard against soaring overseas corruption risks

China makes state companies guard against soaring overseas corruption risks

On Monday, China's corruption watchdog made its state-owned companies immediately guard against the ascending risk of corruption in their overseas entities, telling that it was a number one task of every company's Communist Party cell.

As the Central Commission for Discipline Inspection told, it had issued corresponding guidance instructing state companies to deal with such risks, which could arise from their overseas personnel as well as decision-making.

The major aim was to ensure the safety of the country’s assets and also make its state enterprises sturdy and cutting-edge, thus cultivating world-class enterprises, which are competitive worldwide.

The country’s wide-ranging crackdown on corruption has mostly concentrated on the domestic operations of its state-owned companies, rather than their overseas activities.

In 2015, China’s authorities told it would have the overseas assets of its SOEs audited after the state news agency Xinhua unveiled that the authorities don’t audit the 4 trillion Yuan of assets such companies hold overseas.

 

Similar

British inflation edges up 2.4%

In June, inflation in Great Britain tacked on at a slower than anticipated tempo, thus contributing to the major bank’s dilemma as it considers whether to have interest rates lifted next month or not…

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera