Government and Policy
Religious groups' finance affairs to be watched
(Xinhua)
Updated: 2010-03-19 13:34
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BEIJING - The Chinese government said Friday that it would tighten supervision on financial management of the country's 130,000 religious institutions due to "prevailing malpractice."
The authorities found some institutions did not follow standard financial rules and malpractices were reported, which seriously harmed the interests of the followers, said a statement from the State Administration of Religious Affairs (SARA) to Xinhua.
The authorities found that heads of some religious institutions embezzled or misused public money, and the property of some religious institutions had been used for non-religious purposes, it said.
A new regulation has gone effect this month on a trial basis, to better regulate financial management of religious institutions.
Under the new rules, a religious institution is required to hire accountants of its own or have an accounting firm take care of its finances.
Also, it requires a religious institution to submit its annual financial report to the authorities three months after the financial year ends.
In addition, when head or financial chief of a religious institution leaves their post, the authorities will audit the institution.
The regulation will be on trial this year and take effect formally nationwide next year, the statement said.
