Financial Crime World

China’s Anti-Corruption Efforts Intensify Across Key Sectors Amid Ongoing Crackdown

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A Growing Focus on Key Sectors

China’s war on corruption has continued to gain momentum in 2023, with a growing focus on key sectors and expanded efforts to safeguard the country’s high-quality economic and social development. According to official statistics, over the first three quarters of this year, a total of 54 officials registered at and supervised by the Communist Party of China (CPC) Central Committee have been investigated for violations by discipline inspection and supervision agencies nationwide.

Systemic Efforts and Broader Reach

Experts note that China’s strong stance on corruption has led to more systemic efforts and broader reach, ensuring high-quality economic and social development. “The numbers send a clear signal to society as a whole that the investigation and punishment of corruption will be carried out rigorously and without pause,” said Peng Xinlin, a professor with the Law School of Beijing Normal University.

Key Sectors Under Scrutiny

In November, the CPC Central Commission for Discipline Inspection and the National Commission of Supervision announced that Zhang Hongli, former vice president of the Industrial and Commercial Bank of China, was under investigation for suspected severe violations of Party discipline and laws. This case is an example of China’s anti-corruption campaign extending to key areas such as finance, medicine, law enforcement, and judiciary.

  • Corruption cases in the financial sector are often conducted in a more professional manner and are more difficult to detect.
  • However, relevant violations may lead to financial risks, seriously undermining the country’s financial security.

Punishments and Criticisms

Over 79,721 people have been punished for violating the Party’s eight-point decision on improving work conduct in the first 10 months this year. More than 114,000 officials, including seven at provincial and ministerial level, have been criticized for minor misconduct.

Targeting Both Takers and Givers of Bribes

The anti-graft campaign has also targeted both those who take bribes and those who offer them, with a focus on punishing bribe givers to curb opportunities for officials to prey on them. China has also investigated 46,000 incumbent or former village officials since January, expanding its efforts to cover more people at the community level.

Enhancing Fulfillment, Happiness, and Security

Experts stress that the Party’s efforts in exercising full and rigorous self-governance have enhanced the sense of fulfillment, happiness, and security for citizens.