China's Elite Have Been Exposed By The Panama Papers

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Apr 5th 2016, 04:00

Chinese President Xi Jinping (pictured) has been dogged by foreign media reports of great family wealth. Daily Mail

David Wertime, Foreign Policy: Chinese Censors Rush to Make 'Panama Papers' Disappear

Several Beijing leaders were implicated in the big leak. Reading social media, you'd never know it.

On April 3, the Washington, DC-based non-profit International Committee of Investigative Journalists (ICIJ) dropped what struck many as a bombshell: news that a leaked trove of 11.5 million previously secret files from Panama-based law firm Mossack Fonseca showed a dizzying array of world leaders have, or are closely connected to, offshore entities. Its shockwaves have reached Beijing: Relatives or contacts of several sitting and former Chinese high officials are prominently listed, including the brother-in-law of current President Xi JInping, the daughter of former Premier Li Peng, and the grand-daughter of Jia Qinglin, a former member of the Politburo Standing Committee (PSC), a tiny and elite group of officials that runs the country. Hong Kong, a special administrative region of China that functions under a separate legal system, also lives up to its reputation as a haven for mainland capital: the ICIJ report tags it as the largest source of "intermediaries," meaning the lawyers, accountants, and other middlemen that make the system of veiled ownership work.

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WNU Editor: The Panama Papers revelation on China is actually old news. This blog covered this story 2 years ago .... How China's Oligarchs Quietly Stashed Up To $4 Trillion In The Caribbean. The only difference is that the Panama Papers are providing more details and who is benefiting from it.

More News On China's Elite Being Exposed By The Panama Papers

Chinese President Xi Jinping's family used offshore tax havens to conceal their fortunes according to Panama Papers leak -- Daily Mail
Panama papers: China leaders' relatives named in leaks -- BBC
Panama Papers: Family of China's President Xi implicated -- Asia One/AFP
The Panama Papers are super awkward for Beijing -- Washington Post
Panama papers: China censors online discussion -- BBC
China's elite—including Xi Jinping—are linked to offshore deals that hid millions of dollars -- Quartz
Panama Papers: Family of China's President Xi implicated -- Straits Times
Panama Papers: China Censoring Social Media Posts as Elite Implicated in Offshore Deals -- Newsweek
Xi's kin among CPC leaders named in Panama Papers -- Business Standard
Panama Papers: Chinese media silenced as scandal draws in Xi Jinping and 'red aristocracy' -- IBTimes

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China's Elite Have Been Exposed By The Panama Papers

NOW THE NEWS IN FULL.....

KEEP SCROLLING TO THE END ...WE STILL GOT LOTS MORE .......

Message from The Editor: Hello peeps! . We do hope that you will come back for more . This is only the beginning!!

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