A high officer with the China Banking Regulatory Commission (CBRC), China's bank watchdog, has said CBRC will form its anti-corruption mechanism by the means of enhancing education among officials and staffers, and further improving the leading and supervisory power restraint and supervisory mechanism.
Hu Huaibang, an officer of the disciple inspection commission of the CBRC made a research probe recently in eastern Shandong Province and Inner Mongolian Autonomous Region in north China.
CBRC will work to improve its power check and balance system and to strengthen the establishment of related systems, he said.
According to Hu, the CBRC will institute and improve such practices as those concerning the avoidance of relevant functionaries, responsibility of supervisory work, and supervision and report of suspicious acts and officers' economy auditing.
Particular attention should be paid to those cases on abuse of power for personal gains and on public biding of construction projects, materials procurement and operation of financial institutions directly under the CBRC administration, he acknowledged. He also emphasized on the check and supervision of loans, credit cooperatives share buying and businesses of staff member in charge of supervision work.
With the frequent occurrence of cases of corruption in bank sector, all institutions of the CBRC should work harder still to cope with misconduct and improve corporate supervision and internal control mechanism, said Hu.
(Xinhua News Agency April 29, 2005)
