In a refrain that is regularly repeated by senior Chinese leaders, the report warned that rampant corruption poses a threat to Communist party rule.
Corrupt Officials Took $124 Billion Out of China
By: Jamil Anderlini in Beijing,
CNBC
Corrupt Chinese officials smuggled an estimated 800 billion yuan ($123.6 billion) of ill-gotten gains out of the country over a 15-year period, according to a report released by China’s central bank.
Around 17,000 Communist party cadres, police, judicial officers and state-owned enterprise executives fled the country between the mid-1990s and 2008, the 67-page report said.
For higher-ranking officials who managed to abscond with large amounts of money, the US was the favourite destination, while Canada, Australia and the Netherlands were also popular. Those who could not immediately secure visas for western countries often chose to stay in small countries in eastern Europe, Latin America and Africa while they waited for a chance to move to their final intended destination.
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