TechFlow News: On March 24, according to a report by the People’s Daily, the General Office of the CPC Central Committee and the General Office of the State Council recently issued the “Regulations on Integrity in Professional Conduct for Leaders of State-Owned Enterprises.” Article 7 explicitly prohibits leaders of state-owned enterprises from seeking personal gain by leveraging their authority or official influence. Specific prohibited acts include: accepting gifts, cash, virtual currencies, and other assets from affiliated enterprises; buying or selling houses, vehicles, and other assets at unfair prices as a disguised means of receiving property; entrusting others to invest in securities or futures without contributing capital but still reaping profits; engaging in quid pro quo transactions through anonymous shareholding or nominee shareholding arrangements; obtaining substantial returns through financial activities such as private lending; using insider information or trade secrets of the enterprise for personal gain; embezzling, illegally appropriating, or misappropriating enterprise assets; and secretly pocketing discount fees, brokerage commissions, and reward rebates, among others. Violators will be dealt with in accordance with regulations, party discipline, and laws.
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