The State Audit Office reported on its website Thursday than nearly 600 people have been penalized for their involvement in irregularities this office uncovered during its 2003 audit.

Some 368 of those punished were with the Industrial and Commercial Bank. Fifty-two were fired and the cases of at least four have been transferred to legal authorities for possible further action.

The provinces along the Huaihe River in central China imposed punishments on 202 people involved in misappropriating relief money for flood victims. Investigations show that nine of the 14 flood-stricken counties in the Huaihe River Valley stole 136 million yuan (US$16 million) from the disaster relief fund.

The Ministry of Water Resources transferred 21 people who allegedly cheated on the Yangtze embankment projects to judicial departments for further investigation.

Education authorities in Huazhou and Zhanjiang cities in Guangdong Province took action against more than 10 people who embezzled education funds. The former director of the Huazhou Municipal Education Bureau was fired, as was the former director of the Wujiang education bureau in Zhanjiang. Two people thought to be directly responsible are under criminal investigation.

The State Power Co. vowed to improve management after the auditors said poor management decisions caused huge losses for the firm.

Auditor-General Li Jinhua reported in June that 55 ministries and commissions under the State Council had misused 1.4 billion yuan (US$170 million) in the 2003 budget.

(Shenzhen Daily September 24, 2004)