China stresses auditors' role in guarding fiscal stability

Chinese Premier Li Keqiang said Tuesday auditors can play an important role in safeguarding fiscal stability and combating corruption. Auditors must properly supervise the financial department, find potential risks and ensure the sustainability of fiscal fund, Li said at the 21st Congress of the International Organization of Supreme Audit Institutions(INCOSAI), which opened in Beijing Tuesday. In his keynote speech, Li urged auditors to mercilessly expose corruption and protect public funds. The Chinese Premier also called for international cooperation between auditors in perfecting the global financial regulation rules and safeguarding the stability of world economy. To the nearly 700 delegates from some 160 countries, Li said the world economy was picking up slowly but deep-rooted defects remain, leaving many uncertain and instable factors. Li briefed them on China's economy, saying the government had taken measures to advance reforms and restructure the economy to allow the market playing a bigger role in generating growth. "Those measures have delivered evident effects," Li said, saying economy had improved and market expectations were stable and optimistic. "We are capable of reaching the major targets of economic and social development this year and accomplishing fiscal stability and sustainability," he said. With Auditor General of the National Audit Office (NAO) of China to serve as head of INTOSAI, Li said the Chinese government will, as always, support the work of the INTOSAI.