China’s Communist Party warns cadres it’s on the corruption warpath

[hualushui]

 

[leviathan]

Lmao. You think China is today because of China??

If it hadn't opened up it's markets to the West. It wouldn't be at this stage. The whole world used China as a sweatshop. You can stop acting like the Chinese worked day and night to make China what it is today.

Most of the $$$ came from outside as a form of investment. The rest was just regular Chinese IP theft and 10-30% hard work.


Without Jack Ma....there would be no AliBaba & other companies. I see no mainlander making a company comparable to AliBaba. You guys are so ungrateful. Always toeing the CCP line. Even when living in Canada.

"Without Jack Ma....there would be no AliBaba & other companies. I see no mainlander making a company comparable to AliBaba."
LOL What an excellent example of the failed US education system.The system only allows this guy to hold knowledge comparable to a middle school student in Asian. Hint...the bad grade one...

oh, poor boy, Of course you can't see those companies. How on earth can you see them when you can't even name five companies that privately own in China. Ever heard AliBaba's two biggest competitors in China? Google 'Tencent' and 'JD' and educated yourself on that before I gave you something more challenge to your IQ. Your current knowledge about China is at same level with kanye west.

 

[GumNaam]

China’s Communist Party warns cadres it’s on the corruption warpath

• Anti-graft watchdog highlights stiff penalties for recent extreme cases of bribery
• Among the examples is the death sentence given to Lai Xiaomin, the former head of China Huarong Asset Management

William Zheng
Published: 9:00am, 20 Jan, 2021

The case of Lai Xiaomin, former chairman of China Huarong Asset Management, has been highlighted by the Communist Party’s anti-corruption agency as a warning to cadres. Photo: Weibo


China’s top anti-graft watchdog is on a publicity blitz, using a number of high-profile cases to warn cadres not to test the leadership’s resolve on corruption.The Central Commission for Discipline Inspection, the Communist Party’stop anti-corruption agency, is scheduled to hold its three-day annual conference from Friday and is expected to use the cases to underscore the leadership’s determination to end corruption.

As part of that campaign, state broadcaster CCTV will also air a four-part TV programme from Thursday documenting 16 cases of “how [we have] enforced discipline and curb corruption ... as [we] build China into a modestly prosperous society”, the CCDI said on its website on Tuesday.

The announcement came a day after the CCDI published a long report of the crimes committed by Lai Xiaomin, former chairman of China Huarong Asset Management, one of the country’s four state-asset managers, who was
sentenced to deathearly this month for taking 1.79 billion yuan (US$270 million) in bribes.

The report – “Using Lai Xiaomin’s case to encourage rectification” – said the commission ordered party bodies of 19 financial institutions to organise “study sessions” with more than 130 senior and middle-ranking managers to “self reflect” by learning from Lai’s case.

It also said that almost 100 Huarong officials were investigated in connection with Lai’s case and 54 who had earned promotion under his reign had since been removed.

The commission also sent inspectors to the three other state-owned asset management companies – China Orient Asset Management, China Cinda Asset Management and China Great Wall Asset Management. In the aftermath, the four asset managers closed 56 non-core businesses.

Also in the cross hairs is Qin Guangrong, former party secretary of the southwestern province of Yunnan. Qin was sentenced on Tuesday to seven years in jail for taking more than 23 million yuan in bribes.

A TV programme broadcast by the anti-graft agency of Yunnan province last week portrayed Qin as a superstitious person who believed that feng shui would bring him good fortune and promotion to a state leader.

Qin stepped down in 2014 and became a deputy chairman of the national legislature’s legal affairs committee. He surrendered in 2019 after his son Qin Ling was investigated in another corruption case.


Liu Changsong, director of Beijing Mugong Law Firm, said Lai’s death sentence was Beijing’s clear warning to officials in key positions, especially those in the financial industry.

“Just imagine, how will the average person, who works day and night to make ends meet, feels when they know Lai Xiaomin gets 1.8 billion yuan by trading power for money,” Liu said.
“People are, of course, angry. If this is allowed, who would be motivated to work honestly?

“China’s top leadership certainly don’t want those in the most lucrative positions to think that they can get away with serious corruption without facing corresponding consequences.”
Liu said the stiff penalty for Lai also indicated that the party leadership was determined to root out the rampant corruption in China’s opaque financial sector, which was the “economic lifeblood of China’s stability”.

“Those who give bribes are not stupid because they only bribe those who are in power and expect good returns,” he said.
“Corrupt officials like Lai are the main reason for instability in China’s financial industry and the death sentence on Lai can be seen as a sign that [the top leaders] want to clean up the industry and restore order.”

China’s Communist Party warns cadres it’s on the corruption warpath

Anti-graft watchdog highlights stiff penalties for recent extreme cases of bribery.

www.scmp.com

Attention NAB, watch & learn!

 

[Itachi]

"Without Jack Ma....there would be no AliBaba & other companies. I see no mainlander making a company comparable to AliBaba."
LOL What an excellent example of the failed US education system.The system only allows this guy to hold knowledge comparable to a middle school student in Asian. Hint...the bad grade one...

oh, poor boy, Of course you can't see those companies. How on earth can you see them when you can't even name five companies that privately own in China. Ever heard AliBaba's two biggest competitors in China? Google 'Tencent' and 'JD' and educated yourself on that before I gave you something more challenge to your IQ. Your current knowledge about China is at same level with kanye west.

Neither of the above companies have a global reach like AliBaba and Jack Ma is a well known figure. Who even knows about Tencent or JD founders??? Heck, who even knows these companies even exist outside of China?

Carry on Wumao.

This Japanese troller itachi is trolling in all thread regarding China with a fake Pakistan flag

Wait a sec....now I'm Jap??

Thanks for all the fun illiterate Wumao. Post reported.

 

[Leishangthem]

Neither of the above companies have a global reach like AliBaba and Jack Ma is a well known figure. Who even knows about Tencent or JD founders??? Heck, who even knows these companies even exist outside of China?

Carry on Wumao.


Wait a sec....now I'm Jap??

Thanks for all the fun illiterate Wumao. Post reported.

To be honest ,Alibaba is way more locally concentrated in china than the likes of Tencent,alibaba is basically amazon of china,who gives a flying fvk if jack ma is a well known figure,most real power players refuses spotlight ,he's not even richest man of china.

 

[letsrock]

China owes its success in building a workers society based on egalitarian principles and when the society was built encouraged meritocratic capitalism. But if same china takes a fascist route based on han supremacy then it will go belly up pretty soon.

 

[beijingwalker]

But if same china takes a fascist route based on han supremacy then it will go belly up pretty soon.

Fasism is never in our genes, that's why we built a long wall around us to protect us from foreign barbarians.

 

[Globenim]

Meanwhile in plutocracies like the USA and India the corrupted run the country and pardon the few corrupted that have to face justice after getting sold out or thrown under the bus by others criminals or were just really too dumb to get caught in daylight robbery.