Current Communist Party leader Xi Jinping wasn’t just bluffing when he called out the state-run companies and their executives for heavy bureaucracy, nepotism, and troublesome business practices at a meeting held by the Party’s disciplinary taskforce, the Central Committee for Discipline Inspection (CCDI) on Jan. 13.
About a month after Xi spoke at CCDI, it has issued reports on investigations of seven state-owned enterprises (SOEs), including the telecommunication giant China Unicom, the transportation company China Shipping, and the petroleum company Sinopec. Now, 26 central-government-owned SOEs have been identified for a new round of inspection by the CCDI, said its head Wang Qishan on Feb. 11.
It is a foregone conclusion that this investigation will bring down more 'tigers.'
