Friday, Apr 25, 2014Friday, Apr 25, 2014
News
 

China to carry out spot checks on officials' asset declarations

Published on Jan 3, 2014 1:44 PM
PRINT EMAIL
 

BEIJING (REUTERS) - China will begin conducting spot checks this year on assets and other personal information reported by officials to the ruling Communist Party and punish those with hidden wealth, state media reported.

The internal declarations are not made public, and in the past a lack of oversight had largely reduced the system to a formality.

However, the government has faced increased public pressure to improve transparency around officials' wealth, following a wave of scandals involving assets ranging from luxury watches to houses.

The party's internal income declaration system dates back to 1995, and officials have been required to submit a broader range of information including personal income, family assets and relatives' emigration records for the past three years.

 
If you are not a subscriber, you can get instant, unlimited access here