None of China's 112 key universities publish financial information including sources of funding or final accounts, a probe cited in Legal Daily Friday has revealed.

Financial records are the least transparent area for colleges, according to a report conducted by China University of Political Science and Law between 2010 and 2011, published on Thursday.

All the 112 key universities scored zero in an index of measuring the openness and availability of financial information.

But there is good news. Some 96 out of 112 universities, 85 percent, publish information on the purchase of equipment, books, medicines and bidding for large infrastructure projects.

College corruption has been frequently reported by media in recent years.

The root of the corruption is the opaque finance information, said Wang Jingbo, a professor with China University of Political Science and Law who is in charge of the report.

Most of colleges' funds are from government allocation and so they are considered public finance. Colleges are obliged to publish their financial information so as to receive supervision from government and the public, he added.