China Anti-Graft Agency to Inspect Major State-Owned Firms

China Customs officers raise a Chinese flag during a rehearsal for a ceremony along the Bund at sunrise in Shanghai on Jan. 4. Photo: Bloomberg

(Bloomberg) — China’s top anti-corruption agency will inspect dozens of state-owned companies from China Investment Corp. to PetroChina Co. Ltd., suggesting the government may be expanding its push to boost profits at some of the country’s biggest and most important state firms.

The Central Commission for Discipline Inspection (CCDI) said late Monday it will carry out checks on more than 30 companies, also naming China Everbright Group Ltd., China Development Bank and China Petroleum & Chemical Corp., better known as Sinopec.