Looks like China’s assault on corruption ain’t limited to second tier bureaucrats

Chinese authorities have seized assets worth at least $14.5 billion from family members and associates of retired domestic security chief Zhou Yongkang, who is at the centre of China’s biggest corruption scandal in more than six decades…

More than 300 of Zhou’s relatives, political allies, proteges and staff have also been taken into custody or questioned in the past four months…

Prosecutors and the party’s anti-corruption watchdog had frozen bank accounts with deposits totalling 37bn yuan and seized domestic and overseas bonds with a combined value of 51bn yuan after raiding homes in Beijing, Shanghai and five provinces.

Investigators had also confiscated about 300 apartments and villas, antiques and contemporary paintings and more than 60 vehicles, the sources added. Other items seized included expensive liquor, gold, silver and cash in local and foreign currencies.

According to the sources, the seized assets had a combined value of at least 90bn yuan = $14.5 billion.

The sheer size of the asset seizures and the scale of the investigations into the people around Zhou – both unreported until now – make the corruption probe unprecedented in modern China and would appear to show that President Xi Jinping is tackling graft at the highest levels

The government has yet to make any official statement about Zhou or the case against him and it has not been possible to contact Zhou, his family, associates or staff for comment…

Nice to see the fight against corruption making progress. Frankly, my interests in China proper are more concerned with economics and commerce. But, both of those qualities are affected by corruption. Just as corruption is affected by whether or not crooks are actually prosecuted.

Good thing we don’t have to worry about that here in the GOUSA.

Oh.

2 thoughts on “Looks like China’s assault on corruption ain’t limited to second tier bureaucrats

  1. moss says:

    Never anything to cheer about; but, even before the Xi administration moved in, I knew things were getting serious when the CEO of a Shanghai firm who built products for a firm I worked for a decade or so ago – was found guilty of bribe-taking. And executed!

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