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Opinion / Hot Words

靠啥吃啥 (kàoshá chīshá): Benefit from any proximity to power

(China Daily) Updated: 2015-02-12 07:38

Recently the Central Commission for Discipline Inspection of the Communist Party of China posted on its website the report on the findings of the third round of special inspections. The investigations of 13 institutions, including eight State-owned enterprises, exposed some common and serious problems such as trading power for money, and misuse of funds and State assets for personal gain.

Many forms of misuse of funds have been exposed during the inspections. And some SOE leaders have violated the Party's rules and the country's laws by conniving with their relatives to take advantage of their positions for illegal gains. The inspection teams noted in particular the phenomenon of senior managers' relatives making use of their links to power to gain illegal profits or by doing business with the SOEs to gain huge profits.

For instance, the inspection of Dongfeng Mobile Corporation found transaction trails between some of Dongfeng's senior management and companies owned by their relatives. In a twist on this, at China Shipping, some officials and their relatives used the corporation's resources to run private companies for their own benefit. This special inspection round has exposed in more detail the problems with governmental institutions and State-owned enterprises, which reflects the central authority's determination to crack down on corruption.

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