Rules tightened to prevent violations

   Date:2008/10/23     Source:

CHINA'S central bank yesterday said it has tightened rules to prevent senior officials from breaching laws and regulations.

Officials will be "held accountable" for embezzlement, misappropriation of public funds and bribery at entities they supervise that lead to 500,000 yuan (US$73,155) or more in economic losses, should they be found negligent, the People's Bank of China said in a statement on its Website. The central bank has also revised rules to punish staff for breaching disciplinary regulations, which will include forced resignations, the statement said.

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