Latest News:  
Beijing   Moderate rain    25 / 20 ℃  City Forecast

Home>>China Society

2.96 bln yuan misused in affordable housing

(Xinhua)

08:20, June 28, 2012

BEIJING, June 27 (Xinhua) -- China's top auditor said on Wednesday that 2.96 billion yuan (470 million U.S. dollars) earmarked for affordable housing programs was intercepted or embezzled last year.

The report was based on auditing in 66 cities and counties.

Liu Jiayi, auditor general of the National Audit Office, added the agency had discovered other problems in social housing construction, including lack of funds, as well as faulty approval and exit mechanisms.

The agency said more than 5,400 households had been included in the program without undergoing required reviewing procedures and 21,000 were found ineligible for the project.

Liu said after the auditing, local authorities had retrieved 2.82 billion yuan and 3,800 households had been stripped of qualifications.

China has vowed to build 36 million affordable housing units during the 2011-2015 period in a bid to meet the demands of low-income families and cool the property market. But corruption in the construction and application process, as well as doubts over the quality of projects have caused public complaints.

Email|Print|Comments(Editor:梁军、马茜)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Chinese 3rd generation fighter: J-10 jet fighter

  2. Chinese Jade--Timeless Beauty

  3. Famous dancer performs Dream of the Red Chamber

  4. Int'l Day against Drug Abuse marked in Jakarta, Indonesia

Most Popular

Opinions

  1. New welfare stock accounts' impact limited
  2. Leftover men to be a big problem
  3. A symbol of affluence or a trap of luxury?
  4. Premier's visit sign of close ties with region
  5. Property necessary pill for economy
  6. Chinese banks must go global
  7. Putin's visit to Israel more symbolic than strategic
  8. Syria's new government faces escalation of tension
  9. Trade is tool to fix global economy
  10. Skyscraper frenzy brings loan risks to new heights

What's happening in China

Film pioneer Chen Qiang dies at 94

  1. Losses for listed firms, property sector
  2. Private fundraising under supervision
  3. Officials punished for NW China forced abortion
  4. County's two-child trial proves successful
  5. Top brands fail tests for quality, city finds

China Features

  1. US-Japan-ROK drills aim to fix alliance weakness
  2. Why Chinese listed companies withdraw from US?
  3. Dreams can challenge any depth, height
  4. How can traditional Chinese medicine earn trust?
  5. Eurozone should move forward or it will fall over

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai