China’s top audit watchdog has revealed that tens of billions of yuan in funding were misused by localities amid a roll-out of stimulus measures and flagship projects that the nation adopted last year, as Beijing injected trillions to boost China’s economy.
The revelation – resulting from an assessment of the central government’s budget execution last year, as well as of other fiscal revenues and expenditures in 2024 – was spelled out in a report submitted by National Audit Office auditor…
