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.