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Chinese auditors cite billions missing in fraud and waste
China’s auditor-general flagged widespread corruption and misused funds across banks offices and state firms. Notable cases include $8.5 billion stolen to form a science investment firm and a Pudong office tower built with misused funds. Auction of assets planned. flood control misspending totals eyed at $366 million with 1.1 million diverted to a hotel on the Yangtze corridor.
MENTIONED IN THIS ARTICLE
Beljing
China
Li Jinhua
Ministry of Finance
Science and Technology Investment Corporation
Shanghai
Pudong
Zhai Xigui
National Audit Office
Yangtze River
Zhai