China to boost audit of fiscal, financial funds in 2022

BEIJING -- China will boost audit of fiscal and financial funds with a focus on auditing the implementation of major government policies, the top auditor said Thursday.

In 2022, the audit will focus on fiscal expenditures, the implementation of policies for tax and fee cuts, and the financial support for the real economy, especially small and micro businesses, scientific and technological innovation and green development, said Hou Kai, auditor general of the National Audit Office of China (CNAO).

From January to November in 2021, the audit institutions scrutinized about 61,000 entities subject to audit. This has helped recover more than 304 billion yuan ($47.72 billion) of losses and improved about 9,900 rules and regulations, he said.

The audit work in the past year has facilitated the implementation of central government policies and maintained national economic safety, he said.

CNAO audits the implementation of the budget of the central government as well as other government revenues and expenditures. Local audit institutions at various levels audit the budget implementation at their corresponding levels as well as other government revenues and expenditures.