On January 4, 2016, the website of the Commission for Discipline Inspection (CDI), the Chinese Communist Party branch in charge of the ongoing anti-corruption sweep, released a summary of its probes into the largest state-owned enterprise (SOE’s), the top 100 some SOE’s directly under the Central Government.
The Chairman of the Board, the General Manger (CEO), or the top Chinese Communist Party official of SOE’s directly under the Central Government, who are usually referred to as chiefs, are ministerial or deputy ministerial positions directly appointed by the State Council.
According to the article, in the past two years, CDI has covered 55 SOE’s directly under the Central Government, removing 64 personnel from their leadership positions at various levels for corruption investigation. Most of the problems came from the energy, communications, and machinery manufacturing sectors. Among the sacked officials, 36 or 56 percent are the chiefs – top executives or political leaders.
In 2015, six of the nine personnel under investigation were from PetroChina, CNOOC, Sinopec, Wuhan Iron and Steel Co, and China Telecom. Most of these companies are listed on the U.S. stock market.
Source: Commission for Discipline Inspection, Central Committee of Chinese Communist Party, January 4, 2016