BEIJING: An audit of China's central budget in 2020 found signs of commodities being illegally resold for profit, the government said, as Beijing continues a campaign to root out activity it believes is driving up manufacturers' raw material costs.
The audit, which looked at implementation of the budget, as well as other fiscal expenditure and state asset management, also uncovered signs of tax evasion, the government said in a statement on its website on Wednesday."These problems disrupted normal market order and fair competition," said the statement, issued after a regular meeting of the State Council, China's cabinet, chaired by Premier Li Keqiang.
The State Council said it had set up a special investigation team to probe the illegal resale issue and other violations uncovered in the audit and will hold any entities involved to account, no matter how high they rank.
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