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Chief auditor says $3.9b embezzled in '08

(Xinhua)
Updated: 2009-06-24 11:35

BEIJING -- China's chief auditor Liu Jiayi said Wednesday that funds embezzled from public finances totaling more than 26.77 billion yuan (US$3.9 billion), revealed in last year's audits, had been recovered or returned to former funding channels.

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Liu Jiayi, head of China's National Audit Office, made the statement in a report submitted to the ninth session of the Standing Committee of the 11th National People's Congress (NPC), China's top legislature.

He said audits of 55 central departments last year had exposed illegal allocations of funds totaling 4.05 billion yuan and loss and waste of funds totaling 467 million yuan.

He said all departments and units had carefully overhauled problems found in last year's audits.