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A Number of Chinese Nationals Figure in the Reports
The rapid growth of China’s economy has lifted incomes in the country, which is home to more millionaires than any nation besides the U.S., according to the Boston Consulting Group.
Chinese individuals and companies alarmed by a falling yuan and a crackdown on corruption have been on an increased push to move more of their money outside of the country.
A number of prominent Chinese – including the brother-in-law of President Xi Jinping — were named in the leaked documents as directors or shareholders of offshore companies, according to reports.
Chinese law doesn’t bar citizens from investing in offshore firms, but the reports could increase cynicism about anti-corruption efforts.
The rapid growth of China’s economy has lifted incomes in the country, which is home to more millionaires than any nation besides the U.S., according to the Boston Consulting Group.
Chinese individuals and companies alarmed by a falling yuan and a crackdown on corruption have been on an increased push to move more of their money outside of the country.
A number of prominent Chinese – including the brother-in-law of President Xi Jinping — were named in the leaked documents as directors or shareholders of offshore companies, according to reports.
Chinese law doesn’t bar citizens from investing in offshore firms, but the reports could increase cynicism about anti-corruption efforts.
