Key facts
- Nearly 28 billion yuan ($4.12 billion) in agricultural funds was misappropriated by local governments.
- The diverted funds were used to pay down local government debts.
- Funds were also used to support state-owned enterprises and cover administrative expenses.
- The findings were part of a national audit report delivered to the National People's Congress.
A sweeping national audit has uncovered that local governments across numerous Chinese counties have diverted nearly 28 billion yuan ($4.12 billion) in agricultural funds. The misappropriated money was reportedly used to service mounting debts, bolster state-owned enterprises, and sustain basic administrative functions.