In a number of cases, irregular contracting has also resulted in defaulted payments to construction workers.
The draft regulation requires contractors to pay builders fully and promptly on a monthly basis.
Government-invested projects should not start construction without approval from the government planning department and until funds have been allocated.
In August, a ramp on a multi-million-dollar bridge in Harbin of northeast China's Heilongjiang Province collapsed and four trucks plunged 30 meters to the ground, killing three and injuring five.
The bridge, which cost nearly 300 million U.S. dollars and opened to traffic in November 2011, was planned to take three years to complete, but was completed in 18 months.
The collapse triggered public outcry over the safety of public facilities.
10th China Int'l Auto Exhibition to be held in Guangzhou