BEIJING- China's People's Liberation Army on Thursday issued a regulation for its finance work, which aims to streamline its financial affairs and boost efficient fund usage.

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President Hu Jintao, also chairman of the Central Military Commission, signed a decree to publish the rules which take effect on May 1.

With 11 chapters and 66 articles, the regulation specifies the obligations of the army's financial departments, operational mechanism, working procedures and discipline.

The regulation also requires cutting administrative costs by strictly controlling spending on conferences, training, receptions, business travels, government procurement and office equipment maintenance, among others.

It says that "all economic activities of the army should be put under supervision."