BEIJING - China has issued a regulation on auditing economic responsibilities of government and Communist Party officials and managers of State-owned enterprises.
According to a statement issued by the National Audit Office Wednesday, the auditing is to evaluate the performance of officials in fulfilling their economic responsibilities.
The auditing covers all government and Party officials and legal representatives of State-owned enterprises from township level to provincial and ministerial level.
Also, the auditing covers the budgeting and financial balance of the organizations of the targeted officials, management and the uses of fixed assets, as well as the management of important investment projects, among other things.
Additionally, the results of auditing are to be reported, and an accountability system will be established. The results will also be used as references in performance evaluation, promotion, rewarding and punishment of officials, according to the National Audit Office statement.
