China's National Audit Office recovered 14.82 billion yuan
(US$1.79 billion) last year after auditing more than 130,000 work
units across the country, Auditor-General Li Jinhua said Friday at
a national conference in Beijing.?
Auditors helped to save 1.01 billion yuan (US$122 million) in
budgetary allocations and subsidies and returned 9.07 billion yuan
(US$1.1 billion) to allocating bodies.
They also forwarded 1,867 cases to prosecution and disciplinary
authorities, including 13 major cases involving more than 1 billion
yuan (US$121 million) that were directly reported to the State
Council.
Li said the financial malpractice fell into three main
categories:
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Units and individuals cheating on individual consumption loans,
such as housing and car loans, with false documents, and local
governments applying for huge city building loans beyond their
repayment abilities.
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Enterprises cheating on huge loans by writing false bank acceptance
bills without any real trading.
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Criminals colluding with bank employees in fraudulently obtaining
loans involving affiliated enterprises, causing serious credit fund
losses.
Li said the office also organized economic liability audits of
leading members of the former state-run National Power Corporation
last year, finding that slack management had caused serious state
assets losses.
Audits of the implementation of central budgets were another
focus as uncovering problems in the distribution and management of
the budgets and subsidies from the central government for local
expenditure was always a priority, Li said.
(Xinhua News Agency January 31, 2004)