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CPC issues new party regulation to promote SOE leaders' honesty
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15:35, July 13, 2009

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China's ruling Communist Party of China (CPC) made public the regulation on state-owned enterprise leaders' honesty on July 12, aiming to curb corruption.

According to the regulation, company leaders are not allowed violate company principles and procedures to make major policies on production management, appointment and removal for key positions or management of huge money.

They should not adjust the salaries, bonuses and other benefits of company leaders without the approval of personnel departments.

The regulation also specifies various kinds of company leaders' spendings in disguise of work duty, including traveling aboard, buying cars and luxurious office decorations among others.

Party committee secretary, board chairman and general manager are the main principals to supervise company leaders in accordance with the regulation. Violators will be given punishment ranging from warning, demotion to removal from post.

By People's Daily Online

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