Energy audit uncovers misuse of funds

BEIJING - A nationwide audit on cutting energy use and emission levels revealed that local governments have withheld 448 million yuan ($67.12 million) of State funds allocated for this purpose and misused another 43.5 million yuan during the country's 11th Five-Year Plan (2006-2010) period.

Nine people have been punished for their involvement in the financial irregularity, the National Audit Office (NAO) said on Thursday, adding that the funds have been recovered.

The central government had allocated more than 200 billion yuan to meet its goals of cutting energy use and emission levels from 2007 to 2009, as set out in the five-year plan that ends this year.