China Punished 589,000 People for Graft in Nine Months

(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.

Most Read from Bloomberg

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)

Most Read from Bloomberg Businessweek

©2024 Bloomberg L.P.