China Top Auditor Warns of Fiscal, Financial Risks
OREANDA-NEWS. February 02, 2012. China's top auditor has warned of potential risks in the fiscal and financial sectors this year, as well as possible risks regarding resources and the environment, social stability, outbound investment and an informationized society.
China is still facing strategic opportunities in economic development, but is not yet balanced, coordinated and sustainable, and there are still uncertainties in global economic recovery, the National Audit Office (NAO) said.
The auditor did not elaborate on details of the potential risks.
The NAO has ordered the country's local auditors to pay close attention to these risks and enhance efforts to expose other severe challenges and hazards in social and economic development.
In the past year, China's local auditors focused on potential risks in public finance, investment, and state assets management, as well as information security, food, environment and social stability, which has helped the government improve preventative measures, it said.