China's Ministry of Education has asked all colleges and universities to thoroughly account for their use and management of capital after a scandal involving a former president of one of China's major universities was disclosed last week.
Wang Xuming, the ministry's spokesman, said on Tuesday that once problems were detected, colleges must rectify their management quickly and responsible persons must be investigated for possible violations of financial and economic discipline.
Future uses of large sums of money in colleges must undergo scientific analysis and discussion among leading groups so as to ensure fund safety, Wang said.
Colleges should "learn profound lessons" from the scandal of Shan Ping, Wang added.
Shan Ping, former Tianjin University president, has been suspended from his post in the municipal legislature due to a "serious breach of duty".
Born in 1946, Shan was alleged to have made serious mistakes during his term as president of the university and caused great losses.
The Central Commission for Discipline Inspection of the Communist Party of China (CPC) was said to be investigating the allegations.