Teams of anti-graft officials representing the Communist Party’s financial watchdog will be installed in some of China’s largest state-owned financial firms, the South China Morning Post reports, in an active bid to crack down on the sector’s persistent corruption problem.
Among the shortlisted firms are China’s four largest banks and insurers, said Zhao Leji, who heads the Central Commission for Discipline Inspection (CCDI).
The move will be “just like installing surveillance cameras” on the walls of company boardrooms, said Zhao.
The CCDI is intensifying its efforts to squeeze out corruption from state-owned enterprises (SOEs), reducing its previous reliance on reporting from SOEs own internal disciplinary systems.