BEIJING, Dec. 21 (Xinhua) -- A revised regulation has been issued to streamline auditing practices in the armed forces and tighten disciplinary supervision.

Issued by an order from Chairman of the Central Military Commission Xi Jinping, the regulation will take effect on Jan. 1, 2024, according to an official announcement Wednesday.

All economic activity of the Chinese People's Liberation Army and the armed police is subject to auditing, and officials with economic duties must also be placed under scrutiny, the regulation said.

Officials with a lot of financial and logistics responsibilities, those who have been considered for promotion and those who are leaving their posts should be placed under particularly close watch, it said.

Military auditing agencies with powers to investigate and penalize must hand over disciplinary and legal violations cases in the financial sector to anti-graft and prosecution authorities for further investigation.