Why More and More Laundered Money Flows In and Out of China

Chinese paramilitary policemen march outside the Bank of China headquarters, Beijing, Feb. 25, 2016 (AP photo by Ng Han Guan).
Chinese paramilitary policemen march outside the Bank of China headquarters, Beijing, Feb. 25, 2016 (AP photo by Ng Han Guan).

The recent publication of the so-called Panama Papers—a trove of 11 million leaked confidential documents from the Mossack Fonseca law firm in Panama City—and the earlier publication of what might be called the Offshore Papers—2.5 million documents linked to the Singapore-based Portcullis law firm and the British Virgin Islands-based Commonwealth Trust Ltd.—have revealed a large number of offshore shell companies owned or linked to individuals and companies in either China or Hong Kong. Although there are legitimate uses for such shell companies, their secretive nature, combined with reports of vast outflows of capital from China, create suspicions that these companies […]

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