China's huge State-owned enterprises are seen by the public as both too corrupt to save and too powerful to fail. But with dozens of high-profile cases exposed since 2012, China's ongoing anti-corruption drive offers hope for change in SOEs.

On Monday, Jiang Jiemin, former head of the State-owned Assets Supervision and Administration Commission and one-time chairman of oil giant PetroChina, was expelled from the Communist Party of China for serious discipline and law violations.

He was found guilty of taking advantage of his post to seek benefits for others and extorting and receiving a huge amount in bribes, according to the CPC Central Commission for Discipline Inspection.