Chinese Premier Li Keqiang stressed Thursday that authorities should strengthen their fiscal and financial auditing and make full use of existing and incremental funding through reform, according to a State Council statement on Thursday.

The country should put more efforts in supervi­sing and auditing public funds, such as cash used for enhancing people's livelihood, he said.

Those who have misappropriated, confiscated or embezzled the funds should be seriously punished, Li said.

"The country should make funds related to people's livelihood a red line that no one can cross and no one will dare to cross," Li noted.

Auditing should cover all the country's fiscal funds and all departments and projects using the money need to be brought under the supervision of auditing entities, the premier said.