Officials to be liable for bad investment
By Xing Zhigang (China Daily)
Updated: 2006-03-10 05:57

Government officials and SOE heads will be audited for financial incomes and expenses, and other economic activities in the regions and departments under their leadership, according to the law.

Li yesterday also vowed to target the misuse of funds for huge infrastructure projects this year. This comes as Premier Wen Jiabao's calls for the building of a "saving country."

He said the central government's decision to increase its spending on rural areas has made it vital for audit bodies at all levels to pay more attention to any potential problems that may arise.

"All audit administrations, from the top to the bottom level, especially local ones, should give priority to the issue from now on," he said.

"Special audit investigations on rural infrastructure projects will also be launched in the future."

Premier Wen pledged to shift the government's infrastructure investment priority from cities to the countryside during his government work report delivered on Sunday to nearly 3,000 lawmakers.

The government plans to spend 339.7 billion yuan (US$42.3 billion) this year, and billions more in the next five years as a major effort to push ahead with the plan to build a new socialist countryside, the premier said.