Audit turns up unspent billions

A nationwide audit of government cash and spending has found nearly 56.5 billion yuan ($8.8 billion) in funds sitting idle in the coffers of governments and other entities, despite calls by the State Council for funds to be put to productive use.

The National Audit Office, which discovered the money, also found that 36,000 hectares of land allotted to local governments remained unused because the governments changed plans or mortgaged the land to raise money.

Such problems exist in 22 provinces and autonomous regions, and in two governmental agencies, according to the top auditors' findings, which were made public on Friday.