Auditor: US$4.57bn of central budget misused
28 June 2007
China's auditor-general Wednesday said misappropriated government funds cost taxpayers almost US$4.57 billion in 2006, among them about US$3.31 billion were not properly managed, Xinhua (in Chinese) reported. In his annual audit report to China's legislature, Li Jinhua said his auditors found that 56 central government departments and 434 organizations under their control misused government funds. Li, the head of the National Audit Office, also found "managerial irregularities" involving US$200 million in central government budgetary funds, and another US$28 million was squandered or wasted by central government departments and their subordinate agencies, he said in his report to the Standing Committee of the National People's Congress.
Bookmark and Share:
