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China finds 187m yuan embezzled from Beijing-Shanghai railway project
Source: Xinhua |
March 23, 2011, Wednesday
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Online Edition
Online Edition
CHINA'S top auditing body said today that 187 million yuan had been embezzled from the Beijing-Shanghai high-speed railway project.
The finding was based on an interim audit conducted by the National Audit Office (NAO) between May and July in 2010. NAO said it has delivered the audit report to higher authorities and an investigation was underway. It did not state how many people were involved in embezzling the money.
With a total investment of 217.6 billion yuan (about US$33 billion), the 1,318-kilometer railway linking Beijing and Shanghai is expected to start operation in June this year.
Construction of the line started in April 2008. It will cut travel time between the two cities to four hours from the previous 10.
The finding was based on an interim audit conducted by the National Audit Office (NAO) between May and July in 2010. NAO said it has delivered the audit report to higher authorities and an investigation was underway. It did not state how many people were involved in embezzling the money.
With a total investment of 217.6 billion yuan (about US$33 billion), the 1,318-kilometer railway linking Beijing and Shanghai is expected to start operation in June this year.
Construction of the line started in April 2008. It will cut travel time between the two cities to four hours from the previous 10.
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