1.5 million Chinese officials must declare their assets.

Officials being considered for new positions will be disqualified if they are found to have deliberately concealed anything important.

A total of 1.5 million officials in China will have to submit reports on their assets and investments to the Chinese Communist Party (CPC) in 2014.

Chinese officials (photo: CFP)

In 2015, the rate of random asset audits of Chinese officials will increase to 10% from 5% the previous year.Furthermore, according to new regulations from the Chinese government, officials being considered for appointments to important positions will undergo thorough background checks and will be required to submit reports explaining any shortcomings (if any) during their work.

If they are found to have deliberately concealed anything important, they will be disqualified from being candidates for the new position.Starting in 2010, officials at the county level and above in China were required to declare personal information including assets, personal income, investments, travel history, etc. However, it was only last year that China began conducting random checks to verify the information declared by officials.

According to VOV.VN