Documents from China’s anti-graft watchdog show the extent of its warnings to COFCO – China’s largest state-owned food manufacturer and trader – that it faces a risk of potential corruption.
In a Chinese language report, Zhu Baocheng, the inspector who was in charge of the one and a half month-long investigation of the company, wrote COFCO risks “being soft to those who violate regulations”, “using public funds to pay for golfing and other luxury activities” and conducting “inefficient investigations in projects with big loss” – all of which could lead to “graft and corruption.”
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He suggested solutions such as strengthening internal management and control; improving liability; regulating internal spending; and enhancing anti-corruption risk control.
The COFCO case is one of a series of anti-corruption inspections being staged by the watchdog throughout 2014.
COFCO did not reply to just-food’s requests for comment.
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