Beijing, May 13 (IANS) China has launched a special campaign to regulate the use of public funds to buy government vehicles after reports came out that government officials were buying luxury cars for their units and later using them for personal purposes.

A team has been formed to not only investigate and correct the existing excessive use of public money on government vehicles but also focus on streamlining regulations to reduce future extravagance, Xinhua reported.

The team is led by a top official of the Central Commission for Discipline Inspection of the Communist Party of China.

The team would also generate public awareness and respond to public concerns.

The State Council - or the central cabinet - has pledged to enhance transparency of party and government financial information to the public.

It has asked government departments to provide more details to the public regarding financial information, especially instances of using public funds for overseas trips, vehicle purchases and official receptions.

China's crackdown on various forms of extravagant spending by officials saved the country 5.7 billion yuan ($863 million) last year, a report said.