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China's National Audit Office announces 34 cases of fraud, corruption

( January 9, 2018, 03:43 GMT | Official Statement) -- MLex Summary: China's National Audit Office announced 34 cases of fraud and corruption among companies and local government departments, which it discovered and has sent to the courts. The cases include at least three cases of corruption in major state-owned enterprises: China Southern Power Grid, China State Shipbuilding Corporation and Guangdong Power Grid Corporation. The cases also include 53 Chinese companies creating fake value-added tax receipts totaling 18 billion yuan ($2.8 billion), resulting in tax losses of 3.4 billion yuan.The regulator's full statement follows:...

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