China Audit Cites 2 Major Banks for Tax and Loan Issues
Updated
Updated · Bloomberg · Jun 24
China Audit Cites 2 Major Banks for Tax and Loan Issues
2 articles · Updated · Bloomberg · Jun 24
Summary
China’s top auditor told lawmakers that Bank of China and Agricultural Bank were among financial institutions flagged in the latest annual audit for tax and loan problems.
Hou Kai delivered the findings to the legislature on Tuesday, and the National Audit Office later posted the report online as part of its yearly review of government spending and institutional compliance.
The audit ties the bank findings to a broader examination of public funds, extending the report beyond individual lenders to wider weaknesses in how state-linked financial and fiscal resources are managed.