China's national auditor finds investment irregularities at 11 state companies

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China's National Audit Office has found irregularities at 11 state-owned conglomerates ranging from misrepresentation of assets to illegal property development, highlighting the challenges the government faces in overhauling the public sector. In a separate report detailed in the official Xinhua News Agency, the auditor said around 6.7 billion yuan was misappropriated in building and operating a trans-regional power transmission project.

Read the story by Matthew Miller in Reuters.

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