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SHANGHAI’S audit bureau found irregularities in 938 projects last year and prevented more than 8 billion yuan (US$1.2 billion) in losses.
Tian Chunhua, the head of the Shanghai Audit Bureau, said yesterday that the bureau also discovered 2.08 billion yuan worth of false claims of investment in 2015. Tian said his bureau would step up inspection of state-owned assets and public funding.
The 938 projects involved public funding, state-owned assets and economic responsibilities of government officials. It handed 51 cases to law enforcers.
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