China Ramps Up Scrutiny of Fiscal Funds in Warning to Officials

China pledged to step up auditing work to ensure the Communist Party’s major policy initiatives are enforced and that public funds are used properly, a possible warning to local officials as economic concerns mount.

President Xi Jinpingchaired a meeting of the Central Auditing Commission Tuesday, which agreed to ramp up supervision this year on the use of fiscal funds and other government measures to stabilize economic growth, employment and prices, according to a readout from state broadcaster CCTV.

Auditors will also focus on policies intended to boost the financial sector’s support to the real economy, and closely monitor key ...