CCP Plenary: Officials required to disclose assets

Following the annual Chinese Communist Party plenary last week, officials announced plans to require government officials to disclose their assets in a new crackdown on corruption, Reuters reported. Officials will be required to file lengthly reports to the government, including information about their overseas investments, property and the business dealings of their family members, including their children. The new crackdown was announced after Ministry of Commerce statistics showed that around US$50 billion was embezzled and smuggled out of the country by corrupt officials between 1979 and 2003.