China audit finds poverty relief funds underperforming

BEIJING - China's top auditor said Friday that 63.7 million yuan ($9.2 million) of fiscal funds earmarked for poverty relief projects had not achieved their expected performance.

The findings came as the National Audit Office (NAO) released its third-quarter review on the use of fiscal funds for major social projects such as poverty relief, education, and cutting industrial overcapacity.

The fiscal funds were allocated for 32 poverty relief and residential relocation projects, the NAO said.

The audit also found that in 11 cases, violators gained profits for a total amount of 9.57 million yuan from various poverty relief projects.

The government has put emphasis on efficient use of fiscal funds to support major social projects as the economy slows.

Poverty relief is high on China's agenda. With a goal of building an all-round moderately prosperous society by 2020, China has been developing specialty industries, relocating people and extending social security coverage.