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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World China says 3,000 officials punished for construction graft AFP - Friday, May 21 Send IM Story Print Scaffolding goes up at a new construction site in Beijing on May 5. China said Thursday that 3,000 officials had been prosecuted for construction-related graft as it seeks to rein in a red-hot property market boom and prevent corruption related to a huge stimulus plan. BEIJING (AFP) - – China said Thursday that 3,000 officials had been prosecuted for construction-related graft as it seeks to rein in a red-hot property market boom and prevent corruption related to a huge stimulus plan. The 3,058 people punished included cases handled from October last year to the end of April, said Hao Mingjin, a vice minister in the Ministry of Supervision. China unveiled a four-trillion-yuan (586-billion-dollar) stimulus in late 2008 to ward off the effects of the global financial crisis, with much of the spending focused on infrastructure projects and other construction. However, corruption is rampant in China and the spending has raised concerns that much of it could be siphoned off by unscrupulous officials. Fu Kui, another ministry official, told reporters at the same briefing that "some officials and cadres cannot resist the allure of power, money, and women, and fall into a quagmire of corruption." The officials did not specify which corruption cases, if any, were linked to the stimulus package. China is also concerned that a property development boom which has sent real estate prices soaring could overheat, with damaging effects on the economy. On Monday, the ruling Communist Party warned it would impose stiff penalties on officials caught trying to cash in on the boom through corrupt practices related to construction projects, transfer of land and mining rights, real estate development and city planning. Recommend Send IM Story Print Related Articles FOREX-Euro climbs vs US dollar, sentiment still negative Reuters - 32 minutes ago US-BUSINESS Summary Reuters - 36 minutes ago Dell profit exceeds forecasts but shares slump Reuters - 37 minutes ago Stocks sink on euro-zone fears Reuters - 49 minutes ago No swaps drawn with foreign cen banks in latest week-NY Fed Reuters - 50 minutes ago News Search Top Stories US team creates first 'synthetic life' France's Sarkozy denies rift with Germany over debt crisis Paris museum burglar grabs 120-million-dollar art haul Blood diamond prosecutors seek to subpoena Naomi Campbell Judge issues arrest warrant for Lindsay Lohan More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Japan town bans public servants from growing beards Euro slips, German ban keeps markets under tension Tuberculosis most deadly of 'neglected' diseases Obama turns on glamour for Mexico state dinner US Fed sees stronger economic recovery More Most Viewed » Scientists stunned as grey whale sighted off Israel Lack of sleep linked to early death: study UN fears 'irreversible' damage to natural environment Earth may be too hot for humans by 2300: study Ocean fish could disappear in 40 years: UN More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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