China retrieves billions in embezzled funds

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BEIJING, Apr 18 (AFP): China's top auditor said it had recovered a total of 27 billion yuan (four billion dollars) of funds embezzled in 2007, amid an ongoing battle against rampant corruption.
The National Audit Office said in a statement on its website yesterday that 30 officials had been arrested, prosecuted or convicted, and a further 117 were given disciplinary punishments.
The office is required to audit the government's central budget, which includes the transfer of payments to the regions, official investments and use of social security funds.
President Hu Jintao has repeatedly acknowledged that corruption is one of the greatest threats to the legitimacy of the ruling Communist Party.
The government regularly announces major crackdowns on graft in official ranks in an effort to show the population that efforts are being made to extinguish corruption.