In China, as of Sunday all officials and employees of state-run companies are required to disclose details of their finances. This includes the names and locations of relatives living overseas, investment details, changes in marital status, and the economic dealings of their relatives.
The new rules expand the scope of financial disclosure regulations announced in April that only targeted senior Chinese Communist Party officials.
Critics say corruption is too deeply entrenched in the Chinese Communist Party for the new rules to make much of a difference. One issue is that while the disclosure is mandatory, there’s not much oversight to keep people honest when filling out the forms.
