Kallanum Bhagavathiyum
DH NEWSDH Latest NewsLatest NewsNEWSmembers and peopleInternationalPolitics

Communist Party guidelines aim to rein in business activities of officials’ families; Report

China’s ruling Communist Party has announced guidelines to further restrict the economic operations of high government officials’ families, according to the official Xinhua news agency in Beijing. According to Xinhua, officials must declare the economic operations of their spouses and children, and any who fail to do so would be ‘dealt with sternly in accordance with regulations and laws.’

According to the article, officials’ spouses and children must disengage from their commercial operations, or the officials would be forced to resign from their existing positions, ‘accept employment changes,’¬†and suffer various types of punishment. As per the new standards, these commercial activities include investing in firms, holding senior positions in private enterprises or foreign-funded enterprises, participating in private equity funds, and providing paid social intermediary and legal services. According to the party’s guidelines, ‘Strengthening the management of senior cadres’ spouses, children, and their spouses conducting companies is a key step to rigorously govern the party and oversee cadres all-around.’

The extended families of Communist Party leaders have become a significant battleground in President Xi Jinping’s crackdown on corruption. Jinping has punished hundreds of officials for misconduct since taking office in late 2012. Many incidents of corruption have involved politicians establishing businesses and property under the names of relatives, allowing them to fulfill the letter of party norms but still exploiting their power to gain fortune.

 

shortlink

Post Your Comments


Back to top button