China's Minister of
Construction has warned that the country's real estate industry has become a
hotbed for power-for-money deals.
"The industry suffers institutional loopholes in preventing and combating
corruption, especially the collusion between government officials and
businesses," said Wang Guangtao at a recent conference on building a clean and
"Some officials fail to discipline themselves and are living a decadent life
by seeking illegal profits at the price of the general public's interests," Wang
The ministry will stage special inspections on power-for-money deals this
year and watch for malpractice in property transactions and real estate
developments, he pledged.
It will also audit real estate development enterprises and inspect all
property projects under construction to make sure all government officials
embroiled with illegal deals would be punished in line with laws, he said.
Last year, 415 people in the construction sector were found to have breached
either laws or the ruling Communist Party's disciplines. About 68 percent of
them were in administrative departments.
From January to July of 2006, China's procurators analyzed 1,608 commercial
bribery cases in the construction sector, 26.3 percent of the country's total
commercial bribery cases for that period.
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