Beijing has got more than it bargained for in its drive to promote overseas investment by Chinese companies, including more than a dozen French vineyards.
In its annual report to China’s parliament, the National Audit Office said that two companies based in the northeastern port city of Dalian had spent Rmb268m ($43m) in subsidies earmarked for technology acquisitions on 14 wineries in France.
The auditor uncovered other abuses, including a detour to Las Vegas by state geologists ostensibly in North America to study the shale gas boom.
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