BIZCHINA / Weekly Roundup

China, India restart border trade
(China Daily)
Updated: 2006-07-10 14:05

Funds probe

Nearly 50 government departments have been ordered to explain how 5.51 billion yuan (US$689 million) in government funds were misused last year.

The State Council, China's cabinet, demanded an explanation for the misuse of funds last week, which it will report to the legislature by the end of this year.

Premier Wen Jiabao called for the probe in a drive to correct budget problems.

The council urged departments to "conscientiously analyze their problems and immediately correct wrongdoing, to give the Chinese people a serious, responsible and satisfactory reply."


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