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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (3277)	6/25/2004 3:44:02 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

Some new measurement to control the wide-spread corruption in China: it is called 1-2-3 Project. 1 -- the Central gov. will set up a public national bank account, anyone who have embezzled or stolen money from the public can return the money at their own will at any county-level gov.-owned bank. The only information they need to provide when returning the fund is time, amount of the money, and where is the money from. There is no need to provide any of their personal info. 2 -- set a deadline for return. Anyone who have returned embezzled money within the time frame can remain in their current position and does not suffer any punishment. For those who do not return the embezzlement voluntarily, once their wrong deeds discovered, they will be punished at the highest level allowed by law. 3 -- from now on, opening a bank account will require the individual national personal identification card, and individuals can only open bank account for themselves (before, anyone can open any number of accounts for anyone they want to). The gov. will set up a reporting system with reward. The highest amount of reward could be as high as 50% of the embezzlement. This system had been used in Hong Kong bet. mid-70s and the end 70s with pretty good result. Several provices and regions have already started to do this at local level. In ZheJiang Province alone, in the first 5 months, the gov. bank got more than 19 million Yuan of fund returned.