Chinese Auditors Say Three Gorges Dam Project Mismanaged – Thomson Financial

After the National Audit Office found out misused $1.9 billion in pension funds and other government money , also figured out the China’s has mis-management problem. From

A six-month investigation into the bill for China’s huge Three Gorges dam has unearthed widespread mis-management, state-run news media reported.

The official Xinhua news agency said the National Audit Office had detected extra construction costs of 488 mln yuan, most of them attributable to contractors that exaggerated their expenditure.

Several construction companies were also discovered to have subcontracted their projects against regulations and obtained 53.5 mln yuan illegally. The office also found 20.4 hectares of land used without government permission, while another 110 hectares approved for use had been left idle. [Full Text]

See also: Chinese auditors say Three Gorges project running well, though flaws of management exist from People’s Daily online.

July 1, 2007 12:06 PM
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Categories: Economy