China has reclaimed 35.87 billion yuan (US$4.74 billion) in
misused money and passed on 28 cases to police for investigation
after tough audits on government departments, its top auditor said
yesterday.
The amount includes money returned to central government and
that which was returned to its proper usage, the National Audit
Office said yesterday on its Website, without giving a breakdown on
the figures.
Officials at dozens of state organs invested in projects that
had not gained regulatory approval, built fancy office buildings
without approval, or used money which should have gone to
compensate residents relocated in the Three Gorges dam project,
China's top auditor Li Jinhua said in his June annual audit report
for 2006.
Bank of China, Bank of Communications and China Merchants Bank
have punished 163 bank officials after the auditor uncovered
irregularities worth a total of 15.56 billion yuan.
The three banks had issued loans to unqualified property
developers or offered individual mortgage loans with unauthorized
interest rates, the auditor said.
Lenders can offer up to 15 percent discount on individual
mortgage loans. Any discount more than that is considered an
irregularity.
The auditing body said 25 government departments have corrected
irregularities worth 701 million yuan after the auditor found that
33 departments, including China Customs, misused 859 million yuan
in funds last year.
Ninety-two units affiliated to 25 government departments,
including the National Development and Reform Commission and the
Ministry of Culture, misappropriated 2.75 billion yuan last
year.
The NDRC, the country's top planning body, was found to have
increased its investment in the country's four oil reserves by 28.5
percent without gaining approval from the State Council. The top
planning body reported to the Cabinet after the audit.
The audit authority sent 106 cases that were uncovered in 2005
to police and discipline departments, which led to 94 people being
detained, charged and sentenced.
Another 177 received administrative punishments in 2005, the
auditor said.
(Shanghai Daily July 19, 2007)