National

Regional

Taiwan, HK, Macao

Special Coverage

Focus

Society

Profiles

Chief auditor says $3.9b embezzled in '08

(Xinhua)
Updated: 2009-06-24 11:35

BEIJING -- China's chief auditor Liu Jiayi said Wednesday that funds embezzled from public finances totaling more than 26.77 billion yuan (US$3.9 billion), revealed in last year's audits, had been recovered or returned to former funding channels.

Related readings:  Chinese auditors find 117 cases of fund embezzlement in 2007  Netizens hail audit report on corruption  $394m farm fund misused in 2007: Audit office  Mandatory audit before leaving office in Guangdong  No major misuse of quake relief funds: Audit

Liu Jiayi, head of China's National Audit Office, made the statement in a report submitted to the ninth session of the Standing Committee of the 11th National People's Congress (NPC), China's top legislature.

He said audits of 55 central departments last year had exposed illegal allocations of funds totaling 4.05 billion yuan and loss and waste of funds totaling 467 million yuan.

He said all departments and units had carefully overhauled problems found in last year's audits.