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230 Mln Yuan Reconstruction Fund Mishandled

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China's National Audit Office announced on Wednesday that 230-million yuan reconstruction fund to remedy last year's devastating Wenchuan earthquake has been mishandled in Sichuan and Gansu provinces.

A report published by the office Wednesday says Mianyang Investment Holding Group misused 140 million yuan that should go to the rebuilding of Yong'an Avenue on an unrelated construction project.

One of the other two misuse cases included a highroad engineering office in Gansu Province that returned the bank loans with over 7 million yuan of investments in local reconstruction projects.

Meanwhile, along with three other units, the bureau of finance in Guanghan city, among 22 worst-hit places in three quake-devastating provinces, wrongly spent more than 80-million yuan subsidies for the displaced population on decorating a block of buildings on the city's major avenues.

(Xinhua News Agency January 27, 2010)

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