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News Flash

China starts auditing on 4-trillion-yuan stimulus package

(chinadaily.com.cn)
Updated: 2009-09-16 15:35

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The National Audit Office (NAO) has recently begun an all-around audit on the implementation of the 4-trillion-yuan stimulus package, according to cnstock.com.

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China starts auditing on 4-trillion-yuan stimulus package No major problem found in stimulus fund use: NAO

Each of the NAO's resident offices has 50 to 60 auditors scrutinizing the implementation of the stimulus package in the fields of finance, investment, environmental protection, industries and land use. The audit aims to find out if there are irregularities in the use of the funds.

The NAO has been supervising the use of the stimulus package since its launch. Auditor-general of the NAO Liu Jiayi said at the beginning of this year that no major irregularities were found in the implementation.

In November last year the government unveiled a 4-trillion-yuan stimulus package to be pumped into the economy over the next two years, with 1.18 trillion yuan coming from the central budget.