Jiangsu Official Suspected of Using Kickbacks to Purchase Seven Homes

Economic Observer Online
2010-11-23
Translated by Chen Ximeng
Original article: [Chinese]

A reporter from the EO has confirmed that Zhang Meifang, deputy director of the Jiangsu Province Department of Finance was recently required to report to the Discipline Inspection Commission of the CPC. The investigation panel found dozens of credit cards in her house. The panel also found that Zhang has seven properties, three of which are under her daughter's name and the remaining four are in her ownership. One of the homes is located in an exclusive neighborhood in Nanjing and worth 10 million yuan. An inside source has revealed that it was possible that Zhang has accepted bribes worth over 50 million yuan.

Zhang Meifang's name and resume have been deleted from the official website of the Jiangsu Province Department of Finance. The bureaus and offices she was once responsible for are now listed under another deputy director.

Zhang is mainly under investigation for accepting kickbacks from banks, said a source with knowledge of the issue.

A large amount of provincial non-tax revenue is kept in the special bank account opened by the department of finance. The department of finance gets to determine which bank to open an account with. This power provides department officials with an opportunity to cheat the system.

"The department of finance deposit is worth over 10 billion yuan. What bank wouldn't fight for it?" stated an employee from a bank in Jiangsu Province.

Zhang Meifang is suspected of taking advantage of her position to receive a large kickback when determining where to deposit the non-tax revenue of the Jiangsu Province Department of Finance.

This article was edited by Rose Scobie

Image: 江苏财政厅副厅长张美芳被双规房产达七套 看十大贪官豪宅