China’s top authorities have launched unprecedented inspections on state-owned enterprises (SOEs), including China’s three telecom operators. The move is part of a larger effort to ensure that SOE assets are firmly controlled by the central government. The inspections also intend to clear high-ranking officials with suspect political views and to check on the state of the assets of the firms. The campaign will be led by Li Xi, General Secretary of the Central Commission for Discipline Inspection.
– China’s top leadership has launched a major round of inspections of state-owned enterprises (SOEs), including the three major telecom operators, as part of efforts to strengthen the control of the Communist Party on these enterprises.
– This campaign, led by Li Xi, the Secretary of the Central Commission for Discipline Inspection (CCDI), is being seen as one of the main tasks he must accomplish during his five-year tenure.
– The inspection is likely to focus on rooting out any senior management officials with questionable political loyalties, and to ensure that state assets are firmly under the central government’s control.
– The inspection will also look at the party’s leadership role in SOEs, as well as its responsibility for ensuring strict adherence to party discipline and tackling major problems that may hamper high-quality development.
– Previous inspection campaigns have primarily focused on investigating corruption issues among senior management officials and have not delved deeply into financial records or other forms of compliance. However, experts say that this campaign is expected to go beyond identifying corruption and focus more on overall governance and compliance.
– The inspection team, made up of experts from various fields, will have the power to review the accounting records and ask personnel to have conversations with them.
– In addition to SOEs, the campaign will also include large banks, insurance companies, and even the State Sports General Administration.
Note: This is a summary of the Chinese-language article that was originally published by Radio Free Asia.