Members of the Chinese elite, including some of the country’s most politically connected figures, have set up a large number of offshore companies that allow them to conceal billions of dollars abroad, according to a report released Wednesday by the International Consortium of Investigative Journalists, a Washington-based group that works with a number of news organizations around the world.
The report’s authors say it is based on leaked documents concerning tens of thousands of tax-haven clients. The report names more than a dozen of China’s wealthiest citizens, as well as relatives of top officials, including those of the country’s president, Xi Jinping; the former prime minister Wen Jiabao; and descendants of the governing Communist Party’s revolutionary founders.
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Andrew Jacobs and David Barboza, The New York Times via CHINA US Focus http://ift.tt/LZ2Um8
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