Friday, December 19, 2014   

US $5 bn-plus irregularities at China fund, banks
(06-19 19:07)

Irregularities amounting to more than US$5 billion have been found at China's sovereign wealth fund and two large state-owned banks, according to the state auditor, offering a glimpse into the opaque management of government-controlled firms.
China Investment Corporation (CIC), Bank of China and Agricultural Development Bank of China violated regulations in areas including asset selling, loan issuance and fraudulent invoicing, according to the National Audit Office (NAO).--AFP
   
Other China breaking news:
Cop arrested for wrongful conviction (12-18 18:30)
Twelve charged over Kaohsiung gas blast (12-18 17:58)
Shanxi public security official arrested (12-18 16:08)
'Multiple human errors' led to deadly Taiwan gas blasts: prosecutors (12-18 13:55)
Shame in China as village votes to expel HIV-positive boy (12-18 12:34)
2.5b yuan fine for disgraced rail chief's ally (12-16 15:49)
Official admits millions in jade bribes: report (12-16 12:40)
Forced confessions 'not rare': state media (12-16 12:24)
County official in court over million-dollar corruption case (12-12 18:50)
Giant Chinese water diversion starts to flow (12-12 18:25)

More breaking news >>

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