Jan. 27

"There are two primary concerns about the auction, namely its transparency and whether State assets would be sold at unreasonalbe low prices. We have satisfying results on both."

Xu Yongsheng, a State assets management official at the National Government Offices Administration. On Sunday, the first auction of automobiles from central Party and government agencies was held in Beijing, with over 600 people participating. In all, 106 cars were auctioned for 6.6 million yuan ($1.05 million).