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Article

10 Jul 2016

Author:
Associated Press (on South China Morning Post)

China firms ranked worst out of businesses in emerging market nations: global anti-graft watchdog survey

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Transparency International slams ‘pathetic’ findings of report on 100 companies in 15 nations, which also include India, Brazil, Mexico and Russia and says big multinational companies must do more to fight corruption…Chinese firms are the most opaque among companies in emerging-market nations…Three companies in the survey of 100 businesses that scored nought out of 10 were all Chinese, with mainland businesses also dominating the bottom 25 places.

Transparency International…highlighted the urgent need for big multinational companies to do more to fight corruption…Thirty-seven Chinese companies were evaluated, making them the survey’s biggest group, but they had the weakest overall performance. The three mainland companies that scored nought out of 10 were car maker Chery, appliance maker Galanz and car parts maker Wanxiang Group…Only one Chinese company, telecom gear-maker ZTE, was placed in the top 25. 

“The very weak Chinese results stem from weak or non-existent anti-corruption policies and procedures, or a clear failure to disclose them in line with international practice,” Transparency International said in a press release accompanying its report. …Indian firm dominated the top spots. Telecom company Bharti Airtel took first place with a score of 7.3 out of 10, followed by six units of conglomerate Tata and technology company Wipro…