Rectifying Related Party Transactions and Deepening Corruption Governance in the Field of State owned Enterprises by Relying on Enterprises to Eat Enterprises
2023-04-12
Xu Heyi, former Secretary of the Party Committee and Chairman of Beijing Automotive Group Co., Ltd., accepted the review and investigation; Xing Lianjun, Deputy General Manager of Shanxi Cultural Tourism Investment Holding Group Co., Ltd., has been under review and investigation... Recently, disciplinary inspection and supervision authorities in various regions have investigated and punished several leading cadres of state-owned enterprises, and Sichuan and other places have publicly exposed typical cases of disciplinary and illegal activities in the field of state-owned enterprises, releasing a strong signal of continuous rectification of state-owned enterprise corruption. The Second Plenary Session of the 20th Central Commission for Discipline Inspection emphasized highlighting key areas and deepening the rectification of corruption in industries such as finance, state-owned enterprises, politics and law, where power is concentrated, capital intensive, resource rich, and food procurement and sales. What are the typical manifestations of state-owned asset losses caused by state-owned enterprise leaders relying on enterprises to eat them? What weaknesses and vulnerabilities have been exposed? How to promote the "three non corruption" and strengthen the fence to prevent the loss of state-owned assets? The reporter conducted an interview on this matter. Related party transactions, rent seeking, misappropriation... Some leading cadres of state-owned enterprises have sacrificed their corporate interests and state-owned assets for personal gain. Recently, Zhao Weiguo, former chairman of Ziguang Group Co., Ltd., was transferred to the procuratorial organs for investigation and prosecution on suspicion of duty crimes. The notice mentioned that Zhao Weiguo, as a manager of state-owned enterprises, regarded the state-owned enterprises he managed as private territories and deliberately seized state-owned assets. In violation of regulations, he entrusted the profitable business of his unit to his relatives and friends for operation, and purchased goods from the units operated and managed by his relatives and friends at significantly higher prices than the market. He instructed the directors of the listed company to engage in actions that harm the interests of the listed company, causing particularly significant losses to the national interests. Taking a comprehensive view of cases where state-owned enterprise leaders rely on the enterprise to eat the enterprise, the consequences are often damage to the interests of the enterprise and loss of state-owned assets. Chen Qinglu, a cadre of the case review room of the Jiulongpo District Commission for Discipline Inspection and Supervision in Chongqing, told reporters that they either use the scarce resources and profit opportunities of the enterprise as chips to exchange for "thank you fees", or use methods such as fraud to put public funds into personal pockets, or "give enterprise assets and funds to people", which are essentially harming the public and benefiting the private, Exchange personal interests at the expense of sacrificing corporate interests and state-owned assets. Related party transactions, nibbling on and seizing the interests of state-owned enterprises. Some enterprise leaders rely on the production, supply, and sales links of state-owned enterprises to obtain "special care" and "designated transportation" from state-owned enterprises. They may indulge their relatives, friends, and specific relationships to illegally engage in profitable business and earn huge profits, or they may engage in illegal business or partnership with others to encroach on the interests of state-owned enterprises by raising procurement prices, buying low and selling high to earn price differences, and other means. For example, Zhang Honglin, former general manager of China Resources Shanxi Pharmaceutical Co., Ltd., established three "vest" companies as drug suppliers. After purchasing a large amount of low-priced drugs through a certain medicinal company, he then sold them at high prices to China Resources Shanxi Pharmaceutical under the name of "Ma Jia" company, earning a high price difference from it. Set up rent seeking and collect "road money" by sitting on land. Some use the power of resource approval and material procurement to artificially limit and accept bribes for normal business activities, some form circles with illegal merchants to "encircle" enterprises, and some use brokers to sell state-owned assets at low prices to obtain kickbacks. For example, Liu Xingwei, the former general manager of Guodian Chengdu Jintang Power Generation Co., Ltd., grasped the two businesses of buying coal and selling coal ash, and gave specific enterprise subsidies in terms of contracting business, increasing quantity, ensuring prices, and allocating coal payments
Edit：Ying Ying Responsible editor：Jia Jia
Source：jjjcb.ccdi.gov.cn
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