23 Mar '11, 7am

187m yuan embezzled from China railway project

BEIJING: China's state auditor said on Wednesday that millions of dollars in funds for the construction of a high-speed railway linking Beijing and Shanghai were embezzled last year. The revelation follows last month's sacking of railways minister Liu Zhijun, who allegedly took more than 800 million yuan ($122 million) in kickbacks linked to contracts for the expansion of China's high-speed rail network. Some construction companies and individuals siphoned off 187 million yuan ($28.5 million) in funds for the fast link in 2010, Xu Aisheng, a senior official at the National Audit Office, said in a statement. The issue has been handed over to judicial authorities and the ruling Communist Party's disciplinary agencies for further investigation, he said without giving further details. Other problems uncovered by the auditors included improper bidding processes and the filing o...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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