Skip to content

Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

China: Another SOE steelmaker investigated for graft

China’s latest anti-graft target among state-owned enterprises is steelmaker Wuhan Iron and Steel and its former chairman.

Deng Qilin, chairman of the Wuhan Iron and Steel (Group) Corp. until June 2015, is alleged to have committed “serious violations of discipline,” according to news on the website of the Communist Party’s Central Commission for Discipline Inspection (CCDI).

Deng was also secretary-general of the China Iron and Steel Association, an industry association responsible for negotiating iron ore prices and other.

CCDI reported that Deng failed to run the companies properly and disobeyed the law to seek personal favors. He’s also accused of helping relatives and friends in business.

Deng’s alleged graft was discovered during inspections of 26 state-owned enterprises by the CCDI in the first half of 2015. The targeted SOEs are overseen by the state-owned assets supervision and administration commission of the state council (SASAC).

In the first eight months of 2015, six state-owned enterprises administrated by the SASAC were publically criticized for violating anti-graft regulations.

The SOEs included Shanghai Baosteel Group, Wuhan Iron and Steel, China Huaneng Group, China State Construction Engineering Corporation, China Shipping Industry Corporation, and COSCO Group.

_______

Jianwei (Jerry) Fang is a partner with the China-based Global Law Office in the firm’s Shanghai and Beijing offices. He was a judge in China and studied law at Columbia. He can be reached here.

Share this post

LinkedIn
Facebook
Twitter

Comments are closed for this article!