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Wenzhou Officials Illegally Purchases Real Estate

04-10 15:15 Caijing

Full article in Chinese: http://www.caijing.com.cn/2009-04-09/110135575.html

» Wenzhou’s urban reconstruction headquarters admitted on April 9 that local officials purchased real estate property, violating Wenzhou government regulations.

» A recent post on the Tianya forum posted an internal document listing the officials who bought apartment at fixed prices during 2004 and 2005.

» The apartments, part of a low-income housing project, were sold for 8,000-10,000 yuan per square meter in 2005, while the prices have increased to 23,000-26,000 yuan per square meter.

 

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