06/16/2011, 00.00
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Corrupt Chinese communists flee with 800 billion yuan (over 20 years)

They are members of the Party and directors of state companies. The money - the result of bribes and illicit funds - has been carried abroad in suitcases full of money or rented "couriers". The Bank of China admits that corruption is endangering the power of the Communist Party.
Shanghai (AsiaNews / Agencies) - At least 18 thousand Chinese of the ruling establishment have fled abroad in less than 20 years, bringing with them some 800 billion Yuan (equal to 87.24 billion euros) earned through corruption.

A recently published report by the Central Bank of China, says that the money was transported out of the country in suitcases or by renting or "couriers" who like "ants" transferred the money to other nations.
Among the 18 thousand are party cadres and managers of state companies that received bribes or ill-gotten gains. The period covered is between the mid-'90s and 2008.

The report explains that the low-level cadres, who stole relatively small sums of money have fled to countries such as Thailand, Myanmar, Malaysia, Mongolia, Russia.

Those of note and the highest level, who fled with huge sums of cash, preferred the more liberal countries: USA, Canada, Australia, Holland. If they could not immediately get visas in these Western countries, they temporarily re-located to African countries, Latin American or Eastern Europe.

The 67 page report, was originally marked as "confidential", but later won an award for "outstanding value of financial research" and was published on the bank’s website.

The document - drawn up in June 2008 - said that rampant corruption is undermining the foundations of the Communist Party. "It [corruption] - it says – is a direct threat to the clean-politics structure of the [Communist] Party and harms the foundations of the party's power."
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