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RMB 800 billion transferred overseas by corrupted officials during 15 years [Copy link] 中文

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Post time 2011-6-16 18:29:00 |Display all floors
Originally posted by desperado123 at 2011-6-16 17:57
A speical bureau should set up for those fled officials. And all the spendings of this bureau come from the assets they seek back from the corrupted officials.
.

What's the next to do if the director of this special bureau fled after his corruption was revealed?
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Post time 2011-6-17 08:48:58 |Display all floors
The U.S. Embassy declined to comment on the report’s citation of the U.S. as the favored destination for China’s official theives. The report also neglects to explain why the pilferers seem to prefer the U.S., but the country’s lack an extradition agreement with China is almost certainly a factor.

2011-6-16
h ttp://blogs.wsj.com/chinarealtime/2011/06/16/report-corrupt-chinese-officials-take-123-billion-overseas/
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Post time 2011-6-17 08:50:59 |Display all floors
The U.S. Embassy declined to comment on the report's citation of the U.S. as the favored destination for China’s official theives. The report also neglects to explain why the pilferers seem to prefer the U.S., but the country’s lack an extradition agreement with China is almost certainly a factor.

2011-6-16
h ttp://blogs.wsj.com/chinarealtime/2011/06/16/report-corrupt-chinese-officials-take-123-billion-overseas/
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Post time 2011-7-3 13:18:28 |Display all floors
If China set up the DOLLARS AUCTION SYSTEM to sell her  trillion US dollars owned treasury bonds in America, china will have a controlled outflow of capital to overseas. There is a lot of demand from rich chinese companies to invest overeseas. By sellin.g US dollars and receiving billions of yuan, china does not need to print extra yuan to feed into local economy and thus can reduce inflation from US dollars depreciation.


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Capital and companies from China are sidling into Europe

Jun 30th 2011 | from the print edition



A RIDE in a London taxi from Canary Wharf, a financial district, to the Bank of England sounds like an inimitably British experience. It is also a Chinese one.

London’s black cabs are made by Manganese Bronze, which is part-owned by Geely, a Shanghai-based carmaker that also owns Volvo, a Swedish company. China Investment Corporation (CIC), a sovereign-wealth fund, has the third-largest stake in Songbird Estates, which controls Canary Wharf Group, the property firm behind the towers that dominate the city’s eastern skyline. CIC may soon become an investor in the Citigroup building, another landmark skyscraper, which is for sale.

The Bank of England is not yet Chinese-owned but it is increasingly encircled by Chinese banks, which have bought or leased about 300,000 square feet (28,000 square metres) of office space since the financial crisis. Bank of China, which has been in London since 1929, has recently moved into plush new headquarters that overlook the central bank. Down the road, in King William Street, the builders are at work inside the future home of ICBC, another state-owned giant.

If the flow of state capital to Europe is relatively advanced, the arrival of private mainland capital is a younger phenomenon.

A recent survey by Bain & Company, a consultancy, and China Merchants Bank estimated that the investible wealth of Chinese individuals was 62 trillion yuan ($9.6 trillion) and that the number of people with investible assets worth more than 10m yuan would come close to 600,000 this year.

They are increasingly ready to put some of their money abroad. According to Johnson Chng of Bain, rich Chinese have doubled the proportion of their portfolios invested abroad from 10% in 2009 to 20% this year.

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Post time 2011-7-3 18:34:48 |Display all floors
This partly explains why the new generation of communism ruling class become so weak so coward to the offensive foreigners. They have all of their money saved in westerners' banks and all of their relatives living in westerners' countries, not to mention that they also have emigration plan for themselves!!!!!

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