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Posts Tagged ‘China Corruption’

Xi Jinping, China Vice President, Named Communist Party Leader

Posted by Ram Kumar Shrestha on November 15, 2012

By Ben Blanchard and Sui-Lee Wee

BEIJING, Nov 15 (Reuters) – China’s ruling Communist Party unveiled its new leadership line-up on Thursday to steer the world’s second-largest economy for the next five years, with Vice President Xi Jinping taking over from outgoing President Hu Jintao as party chief.

Xi was also named head of the party’s Central Military Commission, state news agency Xinhua said.

The other new members of the Politburo Standing Committee – the innermost circle of power in China’s authoritarian government – include premier-in-waiting Li Keqiang and financial guru Wang Qishan, who will be in charge of fighting corruption. Read the rest of this entry »

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CORRUPTION IN CHINA: HOW PUBLIC OFFICIALS TOOK $120 BILLION, AND RAN

Posted by Ram Kumar Shrestha on June 26, 2011

A report by China’s central bank found that thousands of Chinese government officials have smuggled billions out of the country and fled, mainly to the U.S., highlighting “the corruption within a corrupt system”.

By Xin Haiguang
经济观察报E.O./Worldcrunch

BEIJING – Just how many corrupt Chinese government officials have fled overseas? How much money have they stashed away? And how did they manage to transfer such colossal sums abroad?

Last week the Bank of China published a report entitled “How corrupt officials transfer assets overseas, and a study of monitoring.” The report quoted statistics based on research by the Chinese Academy of Social Sciences. Since 1990, the number of Communist Party and government officials, public security members, judicial cadres, agents of State institutions, and senior management figures of state-owned enterprises fleeing China has reached nearly 18,000. Also missing is about 800 billion yuan (more than $120 billion). Read the rest of this entry »

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