Chongqing Hit Developers with Large Fines in 2011

A special inspection into tax payments in the real estate sector launched by the Chongqing government in 2011 collected 4.5 billion yuan in fines, recent data from the city's Finance Bureau shows.

A source closed to the bureau said that to alleviate fiscal pressure, several city government agencies, including the tax department, land bureau and the industry and commerce administration, jointly launched a special city-wide inquiry that targeted property companies.