South China Morning Post The national auditor has opened a can of worms, exposing major funding irregularities including a whopping 366 billion yuan (HK$463 billion) missing from land sales over six years and millions of yuan spent on high-end alcohol at state-owned firms. by Mimi Lau
'Briefing lawmakers on the audit of the central government's 2014
budget on Sunday, National Audit Office head Liu Jiayi said the
authorities had investigated more than 2,200 government officials for
major fiscal fraud.
'One report, which looked into land sale revenue, checked land sales
and cultivable land reserves from 2008 to 2013. The audit covered more
than two million hectares of land across the nation.
'Auditors found irregularities totalling nearly 781 billion yuan, as
officials misappropriated funds earmarked for land transfers to fill
gaps in other expenses.
'A massive 366.4 billion yuan was missing from the sale of land across
the nation, the report showed. Another 147 billion yuan of transactions
had been fabricated to bump up revenue accounts, it said.'