Date
17 August 2017
China will begin a sweeping audit of government land sales in a bid to expose 'rent-seeking and corruption, a report says. Photo: Bloomberg
China will begin a sweeping audit of government land sales in a bid to expose 'rent-seeking and corruption, a report says. Photo: Bloomberg

China said to launch nationwide govt land sales audit

China is said to be launching a nationwide audit of government land sales and related deals as part of the country’s anti-corruption campaign.

The National Audit Office will conduct “rigorous” checks on funds from land sales, as well land requisition, reserve and supply that occurred from 2008 to 2013, Reuters cited a mainland newspaper as reporting over the weekend.

The audit, to be launched this week under the State Council’s oversight, is likely to “disclose the rent-seeking and corruption phenomenon in various areas”, the Economic Observer was quoted as saying, citing unidentified government sources.

President Xi Jinping’s anti-corruption campaign has led to a growing number of officials being investigated or punished for corruption, with many linked to the property sector.

Government land sale revenue is said to have jumped 45 percent last year to a record 4.1 trillion yuan.

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RC

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