Special to WorldTribune.com

By Willy Lam, East-Asia-Intel.com

The high-profile detention last week of Jiang Jiemin, former president of one of China’s largest state-owned conglomerates, the China National Petroleum Corporation (CNPC), means that President Xi Jinping is really serious about fighting corruption.

There is, however, no evidence that the crackdown on the monkey businesses of the CNPC suggests that the leadership under President Xi and Premier Li Keqiang is about to make radical changes to the Chinese Communist Party’s (CCP) long-standing policy of retaining control over 110-odd yangqi, or state-owned enterprise (SOE) groups that enjoy monopolies over major sectors of the economy.

There are also no indications that the Xi-Li leadership may be going after cadres more senior than Jiang, who is a member of the Central Committee This is despite widespread speculation that former member of the Politburo Standing Committee (PBSC) Zhou Yongkang, who is one of Jiang’s patrons, may soon be detained for graft-related felonies.

Read complete article.

  Anti-corruption drive spares major state-run monopolies, Chinese Communist Party, Jiang Jiemin, Li Keqiang, Xi Jinping, yangqis, Zhou Yongkang