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People's Daily Online>>China Society

China's SOE managers stand massive graft trial


13:38, December 25, 2011

WENZHOU, Dec. 24 (Xinhua) -- Sixteen people, mostly senior executives of a state-owned enterprise, were tried by a court in east China for a massive graft case which involved 426 million yuan (67.6 million U.S. dollars), court officials said Saturday.

Ying Guoquan, board chairman of Wenzhou Vegetable Basket Group, and his managers were accused of pocketing 220 million yuan during the restructuring of the fresh farm produce state company, said officials with the Intermediate People's Court of Wenzhou in eastern Zhejiang province.

The court was told that, for one account, Ying bribed local government officials into allowing him to take advantage of the land use rights of about 325 mu (21.67 hectares) under the state-owned company, from which he profited 115.79 million yuan.

The trial, which began on Wednesday, was adjourned on Saturday without the announcement of the court decisions.

The case was the second in this week that underscored the alarming situation of corruption in SOEs, especially during the restructuring process, a time when supervision is often lax.

A southwest China court has upheld the death sentence for a former SOE boss convicted of graft and embezzlement totaling over 30 million yuan (4.72 million U.S. dollars).

Wang Guanchao, former board chairman of Beijing Triple Nine Automobile Industrial Co., Ltd, and others were found to have pocketed about 26.3 million yuan from the restructuring of the SOE, and Wang embezzled another 4 million yuan in public funds for his personal business, court officials said.


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Fat-Chun Leung Ki at 2011-12-25188.61.105.*
In China today, it seems that corruption occurred much higher in the leadership hierarchy than the cases mentioned above. Some 15 years ago, there was a call by the highest State leadership "要严肃的打腐败、要双手抓、两手都要硬". What have been the result? The cases of corruption have not only undiminished but have spread on an unprecedented scale since 1949. How reform and corruption have become corollary. Does it means that more reform brings more corruption. So far there is nothing to decoupling the two to indicate that this has not been the case.
PD User at 2011-12-25183.39.33.*
O'christmas, serve these greedy idiots and disgraceful pariahs right!!

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