China's Auditors Say $34.4 Bln Public Funds Misused In 2009: Report

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Chinese officials misused $34.4 billion from public funds in the first 11 months of this year, state media reported Tuesday, citing the country's National Audit Office.

Investigators recovered $2.4 billion after conducting audit in 99,000 companies, government bodies and public institutions. Cases involving 67 senior officials and 164 others were handed over to judicial authorities, Xinhua News Agency reported.

"We should enhance officials' awareness of law and set up clear accountability system at all government levels," said Liu Jiayi, China's top auditor at the national auditing conference.

Monday, Chinese Premier Wen Jiabao asked auditors to closely monitor public investment projects to help avoid embezzlement and waste of public funds.

Chinese officials misused $34.4 billion from public funds in the first 11 months of this year, state media reported Tuesday, citing National Audit Office. (Market News Provided by RTTNews)