Audit: Agency sees losses abroad

One-third of the overseas arms of the State Development & Investment Corp saw losses totaling 59.4 million yuan ($9.32 million) in 2010, according to the nation's top audit body.

The National Audit Office published the findings on Friday after the investigation of 37 SDIC overseas operations.

The audit results showed the State-owned company has seen sharp increases in capital and revenue yet remains plagued by the poor performance of some projects, which led to the losses.