CHINA'S top military body has ordered a crackdown against financial malpractices in the management of the People's Liberation Army as part of the nationwide austerity programme, a party document says.
In another development yesterday, Vice-Premier Li Lanqing said overheated sectors such as property and stock markets had shown signs of a ''cool off'' after the introduction of macro control measures over the national economy.
He told a group of Japanese visitors in Beijing yesterday the austerity programme had brought about good results.
According to the New China News Agency (NCNA), the Central Military Commission has recently issued a directive calling for the strengthening of the leadership, management and discipline of the army over financial and economic matters.
Warning against any unauthorised financial business run by the army, it said military funds could not be turned into bank savings in the name of individuals.
Any speculative activities on foreign exchanges would be strictly banned, the directive said.
