China graft-busters inspect two more power sector firms

BEIJING Mon May 12, 2014 1:13am EDT

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BEIJING May 12 (Reuters) - China's graft-busters are conducting inspections at two more power sector companies, the anti-corruption watchdog said, as the government steps up a campaign against pervasive corruption.

The ruling Communist Party's Central Commission for Discipline Inspection said in a statement late on Saturday that the probes were aimed at "effectively bringing shock and awe" to the war on graft declared by President Xi Jinping.

The latest firms put under scrutiny are Power Construction Corp and state-controlled power equipment maker China XD Group, it said. The commission did not provide details of any specific infractions or people it was targetting.

China is auditing the State Grid Corp of China, the utility said last week in the wake of a magazine report that one of the most senior executives in the world's largest utility was under investigation.

Xi has vowed to target powerful "tigers" as well as lowly "flies" in a fight against corruption that he has said threatens the Communist Party's very existence.

PetroChina 0857.HK , and its parent firm, China National Petroleum Corp (CNPC) are at the centre of one of the biggest corruption investigations into the Chinese state sector in years.

In March, the chairman and the president of Three Gorges Corp., the company that built the $59 billion project for the world's biggest hydro-power scheme, stepped down, but they have not been accused of any wrongdoing. (Reporting by Ben Blanchard; Editing by Simon Cameron-Moore)

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