China conficates 20 bln yuan in graft cases

BEIJING - China's top anti-graft agency, the Central Commission for Discipline Inspection (CCDI), has confiscated 20.1 billion yuan (about $3.2 billion) while investigating graft cases.

The money, generally a result of breaking the Communist Party of China (CPC) and government rules, has been turned over to the national treasury.

The money was seized after November 2012, when a key CPC decision was made on fighting graft, according to Han Jinping of the CCDI.

A part from money, the haul includes gifts and property. Economic losses amounting to 38.7 billion yuan were also retrieved. Losses are incurred when state assets are sold at a low price, or enterprises receive undue taxes breaks.