China Puts 5-Year Ban On New Gov't Office, Hotel Projects

Law360, New York (July 23, 2013, 3:38 PM ET) -- In an attempt to stomp out political corruption and overspending tied to the booming construction business, Chinese officials on Tuesday put in place a five-year moratorium on all government office, hotel and training center projects.

Noting that previous attempts to rein in spending on government projects has made some progress, but not completely eradicated the problem, government officials are making it illegal to continue with existing projects or make any new property deals, the General Office of the Communist Party of China Central Committee and the...
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