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China puts stimulus package under close scrutiny

(Xinhua)
Updated: 2008-11-24 17:28

A joint official statement promised on Monday to ensure close supervision of China's 100 billion yuan ($14.7 billion) stimulus package to prevent waste and fraud.

Two dozen inspection teams will soon be sent to locations around China to follow projects funded by the package.

The inspectors will "check whether the money is used to build office buildings or guesthouses of party and government departments," said the central government notice.

Projects built for "image or achievement" that "waste both money and manpower must be strictly prevented," said the notice, jointly issued by the Communist Party of China Central Commission for Discipline Inspection, the National Development and Reform Commission (NDRC), the Ministry of Supervision, the Ministry of Finance and the National Audit Office.

It also asked inspectors to pay close attention to project quality and stop any "jerry-built projects".

Investment in smokestack industries or those with excess capacity should also be prevented, according to the notice.

The notice put central and local government departments under scrutiny and asked inspectors to determine if funds were being held up, misappropriated, intercepted, embezzled or falsely claimed.

Emphasizing that the funds must be used "safely, transparently and efficiently," the notice said inspectors will check all aspects of fund use, including project planning, assessment and approval, procurement and construction.

"Officials who are found to be negligent, cheating, taking bribes in fund management or intercepting, misappropriating and embezzling project funds will receive party or administrative punishment or even face criminal charges," the notice said.

The notice also asked central government departments to act promptly to implement the stimulus package.

The NDRC must "lose no time" in formulating investment plans and the Ministry of Finance must allocate money to relevant projects within one month after the plans were made, according to the notice.

Announced by the State Council (cabinet) on November 9 as an additional central government investment this year, the 100 billion yuan package is expected to be used in social welfare projects, infrastructure construction, environmental protection and industrial restructuring.