Government officials asked to declare property assets

By Cherry Cao | March 18, 2014, Tuesday |

Online Edition

OFFICIALS above division level in Beijing and some state ministries and commissions are declaring their housing and property assets according to requirements of the country's official property declaration system which aims to prevent corruption, 21st Century Business Herald reported today.

Li Shixiang, executive vice major of the capital city told media earlier this month, that government officials in Beijing, including himself, have already started doing so.

Beijing is currently studying detailed plans for execution of its official property declaration system which has covered detailed information including the size of the houses, their locations, whether they are commodity homes or policy houses, whether they belong to officials themselves or their families, etc, according to Li.

However, officials above division level in institutions and state-owned enterprises have yet to be asked to make such declaration, the newspaper said.

Meanwhile, in certain areas of Beijing such as Huilongguan, Wangjing and Songjiazhuang, there seem to be more existing homes with an obviously cheap price being released recently to the market as owners of those houses hurry to dump their properties, major estate chains in Beijing including Home Link and Centaline Property confirmed with the newspaper.

"It could be possible that the country's planned real property registration system might be one of the reasons behind the current scenario," said Zhang Xu, a Home Link analyst.

Under an urbanization plan for between 2014 and 2020 which was released Sunday, a unified and land-based real property registration system should be established in China by 2020 when individuals' housing information can be checked and shared among different government departments.

Business Real Estate

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Government officials asked to declare property assets

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