Research On Performance Audit Of Public Infrastructure Investment Of Guangzhou

Since the implementation of the Reform and Open policy, Guangzhou City advances continuously the economic development with three weapons, mainly in the aspects of railway, highway, airport and agricultural water conservancy. Li KeQiang, the prime minister said at the Winter Davos BBS, 2014 that there is great space for development regarding China’s construction of infrastructure and public service system. At present, the inventory of public facilities in China is only 38% as much as western European countries and 23% North American countries. During the economic downward period, the most effective strategy for a steady growth is to construct the infrastructure and to expand the public service supply. However, due to the wide range public infrastructure investment and inadequate society or third party supervision, there has been improper decisions, losses and wastage, inefficiency, corruption, embezzlement and etc. which have caused a serious damage to the public community’s vital interests.This article mainly elaborated how to provide an effective supervision to the public infrastructure investment in Guangzhou City, how to sufficiently guarantee focusing more on improving the efficiency and quality of spending, while legalizing the public investment construction. Investment performance audit could be an effective means in terms of supervision and it could adequately ensure that public investment has been brought into full play the economy stabilization, allocation adjustment, and equitable market competition preservation.Firstly, in this article it has discoursed the concept, principle, mode and strategy of public investment performance audit, and has interpreted a research regarding the operation mode and development process of public investment performance audit domestically and abroad. Secondly it has analyzed the current situation of public infrastructure investment construction in Guangzhou city, and fully proved the necessity of infrastructure investment performance audit. At last but not least, it has proposed relevant improvement and countermeasures by exploring and probing the present situation, development process, existed problems of Guangzhou public investment performance audit separately.