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China Punished 589,000 People for Graft in Nine Months

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A Chinese national flag at the Great Hall of the People following the closing of the Second Session of the 14th National People's Congress (NPC) in Beijing, China, on Monday, March 11, 2024. The Chinese legislature voted to change a four-decade-old law so it tightens the Communist Party's grip on the cabinet, underscoring President Xi Jinping's drive to give the party control over all the main levers of government. Bloomberg Bloomberg Bloomberg (Bloomberg)

(Bloomberg) -- China’s anti-graft agency punished 589,000 people in first nine months of the year for discipline violations, including accepting or offering bribery.

There were 53 ministerial-level, or equivalent, officials among those punished, the Central Commission for Discipline Inspection said a statement on its website Saturday. A total of 2,972 cases were transferred to the prosecutor’s office for further investigation, according to the commission.

China’s latest sweeping anti-corruption campaign has implicated a record number of senior officials for two straight years, with a focus on the finance industry. The authorities have labeled some bankers as “hedonistic” and have created a new financial corruption work committee, indicating a push for more permanent oversight of the sector.

(Corrects number of cases transferred to prosecutor’s office to 2,972)

©2024 Bloomberg L.P.