World Bank accuses 11 firms of corruption
Eleven mainland companies are on a corruption and fraud blacklist compiled by the World Bank.
Top of the list is the UK with 49 offenders, followed by Bangladesh with 38 and Indonesia with 37. The US has 17 companies and persons on the black list.
The firms and individuals on the list, which is part of efforts to promote greater transparency and accountability in business, are not eligible for World Bank-financed contracts.
Until yesterday, the decision-making process behind the sanctions was confidential.
'The bank has taken a major step towards greater transparency and accountability by authorising the publication of decisions in new sanctions cases,' said World Bank president Robert Zoellick.
The World Bank has sanctioned 456 firms and individuals globally. Under a 2010 cross-debarment agreement, contractors debarred by the World Bank may also be debarred by other multilateral development banks such as the Asian Development Bank.
The 11 Chinese companies on the blacklist are China First Metallurgical Construction Corporation, China First Metallurgical Group, Zhejiang Zheda Insigma Group, Zhejiang Zheda Insigma Technology, Zhongke Life Science & Technology, Hefei Highway & Bridge Project, Daqing Oilfield Highway & Bridge Engineering, China Communications Construction (CCC), China Geo-Engineering Corporation, China State Construction Engineering Corporation (CSCEC) and China Wuyi. Most of them are banned for violating World Bank regulations on procurement.
CCC is China's largest port construction firm listed in Hong Kong. CSCEC is China's largest building contractor listed in Shanghai.
The 11 firms were banned between 2009 and 2011, and some of the bans will last until 2017.
In addition, Zhejiang Zheda Insigma Group and Zhejiang Zheda Insigma Technology are banned from contracts with the European Bank of Reconstruction and Development, while Daqing Oilfield Highway & Bridge Engineering is banned from projects by the Asian Development Bank.
Wang Zhile, a researcher at China's Ministry of Commerce, warned that the World Bank can ban Chinese firms from tendering for its projects if they were found guilty of corrupt practices.
Number of firms worldwide sanctioned by World Bank