Major overhaul of govt auditing set

China's top policymakers issued a guideline on Tuesday for building up an extensive auditing system by 2020 to facilitate the country's modern governance.

The document, jointly issued by the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council, calls for efficient auditing mechanisms to be established that target the use of public funds and State assets, exploitation of State-owned resources and government officials' role in economic affairs.

The move is intended to safeguard national economic security, restructuring, the rule of law and clean governance, the document said. It also stressed the importance of the independence and supervision of the audit system.