Based on the 15 trillion yuan in value of land sales over the audited period, the 1.3 trillion corruption figures comes to 8.7% of the total. Accounting irregularities came to more than 800 billion. In terms of provinces, 20 out of 21 had corruption problems, or 95%.
Nearly 42% of land sold between 2008 and 2013 which was audited, was still unused at the end of 2013. What's amazing about that number is they only audited 2 million plus hectares of land, yet their audit also turned up over 3 million hectares of illegal land use.
2500 people have been detained in connection with land corruption.
iFeng: 20省份现房地产业腐败 土地审计督察后如何问责
More detailed numbers.
Sina: 土地审计首披露:29省土地出让金少征3664亿
Sina: 土地审计查出问题资金1.3万亿 2500人被处理
Is stagflation temporary?
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I have been gazumped by two red-hot inflation reports in two days, even as
growth slows sharply in Australia and the US. First, in Australia,
quarterly d...
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