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Beijing, China — China has set up a State Bureau for the Prevention of Corruption, which went into operation on Sept. 13. One of its first moves was to announce that government officials would be required to declare their property and financial assets, although no timetable was given for the implementation of this system. This could be a turning point in China's efforts to clean up its government and society.

The experience of other countries shows that rules requiring officials to register their property in their own names and declare their assets upon taking office are a fundamental and effective weapon in fighting corruption.

In Europe, as far back as 1766, Swedish citizens had the right to examine the property and tax information of officials, including the prime minister. The British Parliament passed a Corrupt and Illegal Practices Prevention Act in 1883, setting the rules for parliamentary candidates including full disclosure of their campaign expenses.

The United States currently requires all high-ranking officials, including the president and vice-president, to publicly declare their income and assets every year. Failing to do so, or filing a false statement, can result in a civil or criminal lawsuit. In 1989, the speaker of the U.S. House of Representatives resigned after an investigation by the House Ethics Committee found he had earned more than the allowed figure in speaking fees.

In Asia, South Korean President Kim Young-sam took the lead in 1993 in announcing his personal assets to the public. His anti-corruption campaign led to the passage of a law requiring all government and military officials to make public their financial records. Russia, India, Vietnam and Taiwan are among the many countries that have laws requiring government officials to declare their property and financial assets.

Mainland China, in fact, already has some laws governing the declaration of property. In 1995 it passed a regulation requiring communist party leaders above the county level to declare their property. Two years later, a regulation requiring leaders to declare their major assets was passed. In 2001, leaders above the provincial level were required to declare their family property.

China's anti-corruption campaign will be strengthened when legislation is passed requiring that property be held in the name of its real owner, and that officials declare all of their property and assets.

The key to a clean and reliable government is that government officials declare their individual and family property to society in accordance with national laws. This includes their savings, securities, real estate, various investments and other properties owned by their spouse, parents, children and other relatives. All of these declarations should be open to the public.

First, all properties including savings, shares and real estate must be held under their owners' real names. Second, an annual property declaration system must be set up. Citizens, especially government officials, must report their income and property each year. Third, an open property information system must be set up. Officials should not only have to report their property, but also to publish the information. Fourth, a citizens' supervision system must be built so that if an official reports wrong information, citizens can report this and a government investigation will be carried out.

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(Hu Xingdou is professor of economics and China issues at the Beijing Institute of Technology and an expert on social problems. This article is translated and edited from the Chinese by UPI Asia Online. ©Copyright Hu Xingdou.)