Audit Unveils 50 Billion in Illicit Financial Operations in China’s National Institutes

Audit Unveils 50 Billion in Illicit Financial Operations in China’s National Institutes
A paramilitary police officer stands guard in Tiananmen Square after a plenary session of the National People's Congress in the adjacent Great Hall of the People in Beijing, China, on March 11, 2018. Greg Baker/AFP via Getty Images
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China’s National Audit Office (NAO) took a whole year to complete the 2004 financial audit of the 32 ministries, committees, and offices under the State Council. The results revealed that the national institutions, under the control of the Communist regime, have fallen into severe and systematic corruption.

National Audit Staff Under Tremendous Pressure

In December of 2005, the National Audit Office submitted an audit report to the State Council Standing Committee of the National People’s Congress and the CCP’s Central Commission for Discipline Inspection. The report unveiled that among the 32 top central government organs, including ministries, committees, and offices, there was 50 billion yuan (approximately US$6.17 billion) of related illicit financial operations in 2004.

The whole auditing process took about a year to complete and was repeated three times. The first was in early 2005; the second in mid June, and the third in late October.

Yue Shan
Yue Shan
Author
Yue Shan is a freelance writer who used to work for CCP’s government organizations and listed Chinese real estate companies in his early years. He is familiar with the inner workings of the CCP’s system and its political and business relations and is dedicated to analyzing Chinese politics and current trends. He has been a long-time contributor to several Chinese media outlets based in the U.S. and Taiwan.
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