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SOCIETY
THIS WEEK> THIS WEEK NO. 2, 2014> SOCIETY
UPDATED: January 6, 2014 NO. 2 JANUARY 9, 2014
Asset Supervision
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China ordered strict enforcement of a regulation that requires officials to report their assets and their family members' earnings.

The Organization Department of the Communist Party of China Central Committee announced in a recently issued circular that authorities will enhance supervision that ensures officials' assets reports are accurate.

A revised regulation issued in 2010 requires officials to report their marriage status, property, and their children's and spouses' earnings, overseas business dealings and other investment activities.

However, some corrupt officials have circumvented the regulation by transferring their illegal gains overseas, or to their spouses and children so that they can avoid punishment.

According to the new circular, officials who fail to report their assets will not be eligible for promotion. They may also face punishments ranging from reprimand to dismissal.

The circular also revealed that authorities will launch random checks of the authenticity and integrity of asset reports.



 
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