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Clearing up Accounts to Curb Corruption
China will straighten out bank accounts of non-profit institutions in a bid to improve management of the treasury and curb corruption from the source, said officials attending a meeting on the issue in Beijing Tuesday.
The meeting was jointly held by the Ministry of Supervision, Ministry of Finance, National Audit Office and China's central bank, the People's Bank of China. Representatives from commercial banks also attended the meeting.
He Yong, minister of Supervision and deputy secretary of the Chinese Communist Party's Central Commission for Discipline Inspection, told the meeting that all non-profit institutions in China, including schools, hospitals, research institutes and other cultural and scientific bodies, should perform a thorough self-inspection of their bank accounts and close whatever is unjustifiable.
The supervision chief stressed that the non-profit institutions can only open a new bank account with the approval of the finance departments and a permit issued by the People's Bank of China.
He urged all parties at the meeting support each other and enhance the bank account inspection.
"Institutions that conceal unjustifiable bank accounts and deposit public money under private accounts should be punished in accordance with relevant regulations, and their leaders shall be held responsible,'' he added.
Sources: China Daily
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