Corrupt officials beware, for the country's top auditor will not only be monitoring payments made for Olympic projects, but also scrutinizing the quality of the structures.

Auditor-general of the National Audit Office Li Jinhua said his office would be keeping an eye on investment and checking the construction materials, too. He was quoted by China Business News yesterday as having said that poor quality materials were a threat to safety.

"Embezzlement, corruption and bribery are usually the causes of low-quality projects," he said. "We must stop that and not let those responsible go scot-free."

Audit departments should follow the entire process to determine the quality and financial condition of key projects that require huge investments and long construction periods.

During the past three years, audit departments across the country have audited the accounts of more than 40,000 projects that had a cumulative investment of more than 3 trillion yuan ($386 billion), slashed the cost by more than 40 billion yuan ($5.1 billion) and raised doubts over 400 clues that needed further investigation.

Director of the audit office's investment department Pan Xiaojun said the office began monitoring Olympic construction projects in 2005. And the office has been auditing the accounts of the Beijing Organizing Committee for the Games of the XXIX Olympiad every six months since then.

This year is vital for Olympics projects, and the focus of the audits is on quality, safety and cost.

The office will also audit the South-North Water Diversion project, as well as 25 railway projects this year.

In Shanghai, Acting Party Secretary and Mayor Han Zheng has warned that unscrupulous businessmen like Zhou Zhengyi would be severely punished if they were caught.

Real estate tycoon Zhou, also known as Chau Ching-ngai, has been charged with bribery and forging tax receipts.

He is alleged to have been involved in a multi-billion yuan social security fund scandal that led to the downfall of former city Party secretary Chen Liangyu in September 2006.

Zhou was arrested last week shortly after he completed a three-year sentence for fraud and manipulating the stock market.

China Daily

(China Daily 01/26/2007 page5)