China Finds $3.24 Billion of Public Funds in Unauthorized Coffers

People’s Daily reports that investigators have found 21.5 billion yuan (US$3.24 billion) in public funds by unauthorized departments:

The probe was led by the Central Commission for Discipline Inspection of the Communist Party of China.

The probe had put government agencies, public institutions, social groups, state-owned and state holding enterprises under scrutiny, and had uncovered 45,593 cases of public money being held in unauthorized departmental coffers, involving a total of 21.5 billion yuan.

A total of 2,669 officials involved in these cases have been punished, also according to the statement.

December 27, 2010 3:25 PM
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Categories: Economy, Law, Politics