News 
 Local News 
 News 
 General 
 Billions misused by Chinese officials: report 

Billions misused by Chinese officials: report

28/08/2008 3:40:00 PM
Chinese government departments embezzled, misused or mismanaged billions of dollars last year, the nation's auditor said in an annual report that often leads to a slew of graft charges.

The tax office, the education and commerce ministries, and the department responsible for censoring China's television programs were among the government organs found to have been found guilty of misusing public money.

In his report delivered to parliament yesterday, Auditor General Liu Jiayi said 14 central government officials had already been detained for their roles in embezzling or misusing 4.52 billion yuan ($769.5 million).

Another 41.7 billion yuan ($7 billion) had been mismanaged, according to the report that was published on the audit office's website and carried prominently in the state-run press today.

Among other major findings, an audit of nine major financial institutions linked to the government, including the Agricultural Bank of China, showed 14.2 billion yuan had been used illegally, the China Daily newspaper said.

The investigations into the finance sector had led to 140 suspects being handed over to judicial authorities for prosecution.

China's state auditor is required by law to audit the government's central budget, which includes the transfer of payments to the regions, official investments and use of social security funds.

President Hu Jintao has repeatedly acknowledged that corruption is one of the greatest threats to the legitimacy of the ruling Communist Party.

The government regularly announces major crackdowns on graft in official ranks, such as the audit office report, in an effort to show the population that efforts are being made to extinguish corruption.

Nevertheless, corruption within the government and society in general remains a major problem for China.

AFP

Print
Increase Text Size
Decrease Text Size

Comments


No comments yet. Be the first to comment below.

Post A Comment


Screen name  *
Email address  *
Remember me?
Comment  *
We invite and encourage our readers to post comments. Comments are moderated and will appear as soon as our editor has approved them. When posting comments you agree to be bound by our Terms and Conditions.
Chinese flag flies outside of Beijing's Forbidden City.
Chinese flag flies outside of Beijing's Forbidden City.
Chinese President Hu Jintao
Chinese President Hu Jintao

1/12/2008 | A government budget going into deficit as an economy heads towards a recession should evoke no more than a yawn.
Yourguide to Your Toyota
For the latest in sport - click here
 
Babies of 2008 - click here to find out more
 
CT Home Delivery
 
Classifieds
 
Domain.com.au
 
Photo Sales - click here
 SEND...
 SAVE...
 SHARE...