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Tuesday, September 20, 2016
Weaknesses of assessment revealed in investment fraud
ANBOUND

The media recently reported that some of the grass-roots government in Huai'an City, Jiangsu Province have committed rather "innovative" fraud in attracting investment, where they collaborated with intermediaries and Hong Kong and Macao businessmen to “purchase foreign investment”. Anbound emphasizes that while China is undergoing economic transformation, not only the economy and the industry need to be readjusted, but also the government administrative and evaluation system as well. Based on our fieldworks, we understand that there is the problem of changing development concept and target, but the assessment mechanism remains unchanged, causing the embarrassing situation of "new ideas, the old assessments". Performance evaluation should be improved from time to time.

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