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October 17, 2009

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Officials On Trial Over Cheap Apartments

THREE officials are on trial in Zhejiang Province for selling apartments to government officials cheaply, resulting in the province losing more than 10 million yuan (US$1.46 million), China News Service reported yesterday.

Wu Quanshu, former Party secretary of Wenzhou City Old Town Renovation Headquarters and Wenzhou United Housing Development former director, sold 14 apartments.

Lin Guoquan, the company's manager, allegedly sold 10 apartments. Zheng Xiaomeng, the company's operational director, is said to have helped prepare sale contracts despite knowing the prices were below market value.


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