Some Misspending Identified

By Joe McDonald | May 28, 2009, Thursday |

Print Edition

CHINA'S government yesterday said it has found misspending and sloppy accounting in its huge stimulus package but the overall effort is going well.

An audit found some officials spent without approval or failed to keep accurate records or to report expenditures at all, senior officials said at a news conference.

"There are some serious problems, and for those serious violations we have urged the related departments to issue strict punishment," said Wang Wei, a member of the Communist Party's Central Commission for Discipline Inspection.

However, Wang said, "generally, the implementation is good."

China launched the stimulus plan in November to boost domestic consumption and insulate China from the impact of the global downturn.

Economy

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Some Misspending Identified

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