The Central Committee of the Communist Party of China Issued the "Regulations on Clean Conduct for Leaders and Managers of State-Owned Enterprises": Prohibits Accepting "Virtual Currency" and Other Property

According to Mars Finance, the People’s Daily reports that the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council recently issued the “Regulations on Integrity in the Employment of Leaders of State-Owned Enterprises.” Article 7 clearly prohibits leaders of state-owned enterprises from using their authority or influence to seek personal gain, including but not limited to: accepting gifts, cash, or virtual currencies from related companies; engaging in transactions involving property or vehicles at unfair prices to covertly receive assets; entrusting others to invest in securities or futures without contributing funds but gaining benefits; conducting disguised equity transactions through anonymous or proxy holdings; obtaining large returns through private lending or other financial activities; using insider information or trade secrets for personal benefit; embezzling or illegally misappropriating enterprise assets; and pocketing discounts, intermediary fees, or reward rebates. Violators will be dealt with in accordance with laws, regulations, and discipline.