Corruption grows in China

China: Corruption in China's construction industry has reached epic proportions according to the state run Xinhau news agency. Almost 50000 Chinese officials have been punished for corruption in the last two years and a recent investigation by the National Audit Office found that CNY 290 billion (US$ 36 billion) of public funds had been misused in the first 11 months of 2005.

At the end of last year, former Land and Resources Minister Tian Fengshan, was jailed for life for taking CNY 4.36 million (US$ 540000) in bribes over eight years.

In January this year another Land Resources Bureau worker was sentenced to death for stealing CNY 2.8 million (US$ 347000) destined for the Three Gorges Dam.

In a bid to increase transparency and competitiveness the Government has formed a new state-owned agency, the China Transportation Construction Group (CTCG) by merging China Harbour Construction Company and the China Road and Bridge Company. CTCG will be responsible for the construction of large-scale infrastructure projects such as harbours, bridges and tunnels.