Three senior executives from China Shipping and one from COSCO were disciplined by China’s State-owned Assets Supervision and Administration Commission of the State Council (SASAC), Central Commission for Discipline Inspection (CCDI) announced on 10 June.
CCDI is the highest internal-control institution of the Communist Party of China (CPC).
Chen Hai, deputy general manager of the tourism management subsidiary of Guangzhou Maritime Transport, a branch of China Shipping, was given a serious warning by CPC and a serious demerit on his personal record.
The punishment was made for Chen playing golf with company funds.
Zhang Rongbiao, deputy general manager of China Shipping Tanker Company, was dismissed from his office for the same reason.
Pu Yousheng, chief accountant of China Shipping & Sinopec Suppliers (China Bunker) was given a serious warning by CPC and a serious demerit on his personal record for using company funds for entertainment and playing golf. Pu will be paying back all the expenses.
Yang Zhijian, deputy general manager of COSCO Logistics, was given a warning by CPC for purchasing shopping cards and playing golf with company funds.
According to SASAC, these executives are punished for violating the eight-point code to cut bureaucracy initiated by the central government in 2012.