LINE

Text:AAAPrint
Society

ICBC found to have nepotism problems

1
2016-05-03 11:08China.org.cn Editor: Gu Liping
The Industrial and Commercial Bank of China. (Photo:China.org.cn/Chen Boyuan)

The Industrial and Commercial Bank of China. (Photo:China.org.cn/Chen Boyuan)

China's central inspection panel recently announced that the Industrial and Commercial Bank of China (ICBC), one of China's four major state-owned banks, has "serious nepotism" problems.

Among the 691 senior officials working directly with the ICBC's headquarters, 220 have either spouses or children who work in the same bank; the headcount of such nepotism-favored employees totaled 240 since some senior official brought in more than one family member to the bank, according to the central inspection team, who demanded that the ICBC complete a self-examination of nepotism before the end of May.

Nepotism has long been a prevalent phenomenon in China and does not only exist in ICBC. From time to time, employers will attempt to improve the problem, but their efforts often fail because the chain of interest is too solid to be broken.

Nepotism leads to unfairness in a broad sense, and identifying each individual case of nepotism will also be difficult, because the children of senior banking officials are likely to be under their parents' influence since childhood and later pursue a degree in finance in college.

 

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.