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

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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

Published: 9:00am, 20 Jan 2021Updated: 9:00am, 20 Jan 2021

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’s top 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 death early 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.