CHINA TOPIX

Updated 11:29 AM EDT, Tue, Jun 16, 2020

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China Recovered Billions of Stolen Public Funds in 2015

billions in public funds

(Photo : gettyimages) From this, 321 officials were handed over to judiciary bodies and disciplinary departments and a total of 243 officials that were involved in the cases were punished. The office found cases of public funds misuse totaling more than 250 billion yuan ($38.52 billion).

The Chinese government has recovered more than 380 billion yuan ($58.6 billion) of stolen public money in just the first 11 months of 2015. The effort is aligned with the government's initiative to wipe out corruption in public spending.

According to state media, President Xi Jinping has told party officials to closely watch their families amid reports that his relatives and those of other elite politicians have amassed massive wealth.

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According to Lui Jiavi, Auditor General of the National Audit Office, 100,000 officials across the country and more than 3,600 cases of violations of Party rules and national laws were turned over to judiciary departments.

From this, 321 officials were handed over to judiciary bodies and disciplinary departments and a total of 243 officials that were involved in the cases were punished. The office found cases of public funds misuse totaling more than 250 billion yuan ($38.52 billion).

Liu stated that the auditors will be specifically looking into public authorities with greater political power, especially those with access to the public funds and organizations that have high resources.

The three most common forms of corruption in the Government include using the people's money on tours abroad in the name of officials visits, using public funds for luxurious parties and using public funds for personal trips.

After authorities stepped up auditing efforts over the past few years, public spending on overseas trips, vehicles and other official expenses has dropped this year to 6.3 billion yuan.

The National Audit Office has promised to continue checking imbalances of expenses and receipts as well as dishonest accounting relating to public consumption, and monitor the entire procedure of spending public funds.

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