Audit exposes $440m of misused funds
By Liang Qiwen | China Daily | Updated: 2008-11-26 07:45
GUANGZHOU: More than 3 billion yuan ($440 million) of public money earmarked for environmental and housing projects in Shenzhen was misappropriated or misused in the past four years, local media reported yesterday.
The anomalies were exposed by an audit of Shenzhen's government performance released on Monday, the Guangzhou-based South China Metropolis Daily reported.
The municipality's audit bureau investigated the use of eight funds this year.
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