China Daily: “China’s auditing authorities said on Monday that 491 million yuan ($77.84 million) had been embezzled from the Beijing-
Shanghai High-speed Railway project. In a report based on an audit conducted between June and September in 2011, the National Audit Office NAO listed some irregular practices in the construction and management of the project. Purchases that were not made through standard bidding involved 849 million yuan, while the cancellation of wind-shielding barriers construction in some sections meant 413 million yuan of purchasing funds was not used, according to the report.”
via $77m embezzled from high-speed rail project|Economy|chinadaily.com.cn.
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