On February 4, 2016, The Central Commission for Discipline Inspection (CCDI) of the Chinese Communist Party published the findings of its third round of inspections, which involved 31 entities. Major problems uncovered included corruption, weakening of the Party’s leadership, and violations in personnel selection and placement.
CCDI launched the third round of inspections in October of 2015. Fifteen inspection teams were dispatched to cover the 31 entities. Several central government organs such as the Ministry of Education and the National Bureau of Statistics (NBS), along with 21 major financial institutions including the central bank, securities regulators, state-owned banks and insurance companies were inspected.
For example, at the China Securities Regulatory Commission, CCDI discovered loopholes that breed corruption due to conflicts of interest. At China Construction Bank, CCDI also found officials abusing their power in order to attain personal gain. At China Life, China’s largest insurer, CCDI found that "the company’s local branches frequently violated laws and regulations" including fundraising fraud. CCDI has required these 31 entities to correct the problems per the CCDI’s recommendations. Further CCDI inspection teams may be dispatched to monitor the progress of the effort.
Source: The Central Commission for Discipline Inspection of the Chinese Communist Party, February 4, 2016 http://www.ccdi.gov.cn/xwtt/201602/t20160204_74087.html