There have been growing concerns about the amount of bad loans held by local governments China has uncovered 531bn yuan ($84bn; £54bn) of irregularities in local government debts.
The National Audit Office said breaches included "irregular credit guarantees", "irregular collateral" and "fraudulent and underpayment of registered capital".
There are growing concerns about the amount of bad loans being held by local governments.
Official figures show they held debt of 10.7tn yuan ($1.7tn; £1.1tn) in 2010.
Local government agencies have been told to rectify the problems.
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