China Says Billions of Government Funds Lost or Looted བོད་སྐད།

A Chinese government audit has discovered more than 100 cases of embezzlement, mismanagement or misuse of billions of dollars in government funds in 2007.

A report by the National Audit Office found that 53 ministerial-level departments and their subsidiary agencies stole or squandered at least 660 million dollars through false budget accounts, under-reporting revenues and over-reporting expenditures.

The audit agency says another six billion dollars were lost due to "managerial irregularities."

The report says nearly four million dollars in disaster relief funds were embezzled and used to build government buildings or cover administrative expenses.

Nearly 200 officials were arrested, prosecuted and convicted, or handed administrative punishments. Fourteen top officials have been detained.

China's Communist Party leadership has stepped up efforts to tackle corruption, believing it to be a threat to its grip on power.

Some information for this report was provided by AFP, AP and Reuters.