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Chinese military tightens financial management

Xinhua, July 2, 2015 Adjust font size:

The People's Liberation Army (PLA) has promised "financial discipline" after an inspection campaign across all of its financial departments uncovered irregularities.

According to a circular released on Thursday, the ongoing campaign, which started in February, focused on the management of budgets, accounts, expenditure, balances, extra-budgetary funds and the funding of official receptions.

The irregularities included "randomly-adjusted budgets, embezzlement of public funds, unapproved bank accounts, unofficial deposits or borrowing of money, and unapproved subsidies," according to the PLA.

Certain funds had been allowed to go over budget, and fake invoices for reimbursement were found, the statement said.

It was also discovered that some units had "private coffers" that were used to transfer public money, it added.

Violators have been punished according to PLA regulations and law, the statement said. Endit