BEIJING, Jan. 17 (Xinhua) -- The State Council on Wednesday pledged to improve transparency of government work and severely punish corruption.

Members of the Leading Party Members' Group of the State Council held a meeting, presided over by Premier Li Keqiang, to discuss how to realize full and rigorous Party management within the government.

The State Council decided to tighten up fiscal management and expand publicity of budgets, said a statement issued after the meeting.

Oversight of public spending will cover all projects, the statement said.

Transactions involving public resources will be transparent and conducted under standard procedures with every step recorded so that backdoor activities are eliminated.

Supervision will be tightened of government-subsidized housing, land use and mining rights, government purchases and bidding for infrastructure projects.

State-owned enterprises will be placed under strict scrutiny to prevent malpractice in restructuring, mergers and overseas investment.