A businessman who made it to the final eligibility list for government low-cost homes was disqualified after he was found to have lied about his financial circumstances.
The city housing and construction bureau said it had informed Wang Zhonghua, the general manager of a printing factory, that he had been removed from the list because his family assets exceeded 320,000 yuan (US$48,240), the limit for applying for government-subsidized housing, the Daily Sunshine reported yesterday.
Wang could not be reached for comment.
Earlier Chinese media reports said Wang had allegedly transferred his 900,000 shares in the printing factory to his brother for only 1 yuan in 2009. The registered capital of the factory was 5 million yuan, the Daily said.
Wang was also exposed living in an expensive housing estate in Futian CBD and hired a domestic helper. The revelations came to light after the final list was published by the bureau for public scrutiny on New Year s Eve. The average monthly pay for a domestic helper is about 2,000 yuan.
Wang had made it into the final list without including his Buick car in his declared family assets, according to the paper.
The final list came under fire when it was made public with doubts expressed over many applicants on the list. (SD News)
