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Anti-graft bodies urged to tighten SOE oversight By YANG ZEKUN | China Daily | Updated: 2021-04-21 08:24 A liquefied natural gas tanker from Qatar docks at a Sinopec Group port in Tianjin in November. As a major strategic partner in the energy sector, Qatar has supplied millions of tons of LNG to China since 2009. [HU QINGMING/FOR CHINA DAILY]c
China s top anti-graft bodies have urged supervisory organs to tighten oversight and severely punish offenses related to State-owned enterprises after an investigation into 31 people at an SOE in Yunnan province.
On April 14, the provincial discipline inspection and supervisory organs investigated 19 people from Kunming Iron and Steel Holding, an SOE based in Anning, Yunnan, over serious violations of Party disciplines and national laws. Twelve other people were detained on suspicion of bribery.
China s top anti-graft bodies have urged supervisory organs to tighten oversight and severely punish offenses related to State-owned enterprises after an investigation into 31 people at an SOE in Yunnan province.
On April 14, the provincial discipline inspection and supervisory organs investigated 19 people from Kunming Iron and Steel Holding, an SOE based in Anning, Yunnan, over serious violations of Party disciplines and national laws. Twelve other people were detained on suspicion of bribery.
Those investigated include the company s chairman and its deputy general managers, and top executives and employees from its wholly owned subsidiaries, holding companies and joint-stock companies.
On Monday, the Communist Party of China Central Commission for Discipline Inspection and the National Supervisory Commission urged the discipline inspection and supervisory authorities to fully play their roles and to push forward reform and high-quality development of SOEs.
2021 Financial Services Agreement Reference is made to the 2018 Announcement of the Company in relation to the continuing connected transactions contemplated under the 2018 Financial Services Agreement entered into between the Company, Supply Chain (Tianjin), an indirect non-wholly owned subsidiary of the Company and COFCO Finance. The 2018 Financial Services Agreement will be expired on 13 December 2021. In order to continue to provide a more efficient employment of funds within the Group and to better facilitate intra-Group settlement services, the Company, Supply Chain (Tianjin) and COFCO Finance entered into the 2021 Financial Services Agreement on 21 April 2021 which will supersede the 2018 Financial Services Agreement. Pursuant to the 2021 Financial Services Agreement, COFCO Finance shall provide, among others, the Deposit Services, the Fund Transfer Services, the Entrustment Loan Services and the Other Financial Services to the subsidiaries of the Com
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