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SOE Managers Found in Violation of Shareholding Regulations

02-09 13:30 Caijing Magazine

Full article in Chinese: http://www.caijing.com.cn/2009-02-09/110053933.html

» A government investigation found that 56 high-ranking managers in 19 central state-owned enterprises (SOE) violated government rulings on management shareholding in SOEs. The shares are worth 13.49 million yuan.

» The investigation also discovered that 338 managers in 61 SOEs have been earning wages through nominal positions. The earnings amount to a total of 13 million yuan.

» The government has urged involved persons and companies to rectify the wrongdoings.

 

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