A construction project carried out by China State Construction Engineering in Vientiane, Laos in September. (Photo/Xinhua)
A total of 12 Chinese companies including state-owned China State Construction International have been included on a World Bank blacklist due to their suspected involvement in fraud and corruption, reports Chinese news portal Sina.
The Beijing New Century Academy on Transnational Corporations disclosed at a business forum in Beijing on Friday that the World Bank recently released a list of companies which are prohibited to undertake World Bank-financed contracts for periods ranging from two to eight years as they have been sanctioned under the bank's fraud and corruption policy.
The 12 on the list are Zhonghao Overseas Construction Eng, Tianjin Alstom Hydro, China First Metallurgical Construction Corporation, Zhejing Zheda Insigma Group, Zhongke Life Science & Technology, Hefei Highway & Bridge Project, Mr Yang Lin, Daqing Oilfield Highway & Bridge Engineering, China Communications Construction, China Geo-Engineering, China State Construction Engineering, and China Wuyi.
Since April, dozens of Chinese companies listed in the United States have been the subject of class actions and an increasing credibility crisis, said Wang Zhile, an analyst for China's ministry of Commerce, at the forum.
Zhonghao Overseas Construction Eng 中昊海外建設工程
Tianjin Alstom Hydro 天津阿爾斯通水電設備
China First Metallurgical Construction Corporation 中國一冶建設
Zhejing Zheda Insigma Group 浙江浙大網新集團
Zhongke Life Science & Technology 中科生命科技
Hefei Highway & Bridge Project 合肥市公路橋樑工程
Daqing Oilfield Highway & Bridge Engineering 大慶油田路橋工程
China Communications Construction 中國交通建設
China Geo-Engineering 中國地質工程
China State Construction Engineering 中國建築
China Wuyi 中國武夷實業