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Wipe out property corruption, urges advisor
By Wang Xiang |
March 11, 2010, Thursday
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Online Edition
Online Edition
CHINA should take a hard line to wipe out entrenched corruption in the property industry to curb overblown house prices, suggests a top Chinese political advisor.
Ren Yuling, a Counselor of the State Council, said corruption among local officials is the main reason for China's surging housing prices, despite many State Council regulations to check the real estate market, Xinmin Evening News reported today.
The industry has become a hotbed for corrupt officials because profits are too high, he said.
Former deputy president of the standing committee of the National People's Congress Cheng Kejie took more than 40 million yuan (US$5.86 million) from property bosses. The former vice mayor of Suzhou City took more than 100 million yuan from real estate companies. Both were executed for corruption.
Ren said he saw an investigation into a minor official in charge of land deals in the Guangxi Zhuang Autonomous Region. Police found more than 3 million yuan in cash under his bed just six months after he took the job. Some of the red envelopes had never been opened.
"Party disciplinary watchdogs should focus on the cancerous corruption in the housing industry 鈥 this is the key to solve the enigma of China's high housing prices," Ren said.
Soaring housing costs have topped the agenda of the ongoing National People's Congress.
Ren Yuling, a Counselor of the State Council, said corruption among local officials is the main reason for China's surging housing prices, despite many State Council regulations to check the real estate market, Xinmin Evening News reported today.
The industry has become a hotbed for corrupt officials because profits are too high, he said.
Former deputy president of the standing committee of the National People's Congress Cheng Kejie took more than 40 million yuan (US$5.86 million) from property bosses. The former vice mayor of Suzhou City took more than 100 million yuan from real estate companies. Both were executed for corruption.
Ren said he saw an investigation into a minor official in charge of land deals in the Guangxi Zhuang Autonomous Region. Police found more than 3 million yuan in cash under his bed just six months after he took the job. Some of the red envelopes had never been opened.
"Party disciplinary watchdogs should focus on the cancerous corruption in the housing industry 鈥 this is the key to solve the enigma of China's high housing prices," Ren said.
Soaring housing costs have topped the agenda of the ongoing National People's Congress.
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