Auditors’ Shame File: State Billions Wasted – Lydia Chen

From Shanghai Daily:

The state office has released a scathing report that shows misappropriated government funds totaling almost seven billion yuan (US$932 million) and the mismanagement of more than 37 billion yuan.

The report, issued yesterday and posted on the Website of the National Audit Office, revealed budgetary loopholes in 49 central departments in 2006, including the country’s top state-owned asset supervisor and the leading economic-planning body. [Full Text]

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