Spending on the Beijing Olympics is right on target so far, China's top budget watchdog said yesterday.

Li Jinhua, the country's chief auditor, did not say whether he was referring to the $2.1 billion price tag that organisers have put on the Games or the wider infrastructure costs from revamped roads, an expanded subway network and a new airport.

"To date, no Olympic projects have come in over budget," Li said on the sidelines of China's largely rubber-stamp annual parliament.

Organisers have said before that the Beijing Olympics would turn a slender profit, breaking the mould of previous hosts that substantially increased their budgets to cover spiralling costs.

Li, who is days from retiring after 10 years in charge of the National Audit Office, has earned a reputation as an unusually blunt-speaking defender of the public purse.

Asked what changes he would like to see to national auditing, Li said civil servants should be required to disclose their financial assets.

"This is necessary and this is possible," he said.

He said problems still persisted in the misuse of funds for road building, although spending oversight had been considerably improved in recent years.

After national audits by Li's team last year, China detained 28 officials for their role in misusing $6.2 billion in government funds in 2006.