Hong Kong is one of the channels used by corrupt officials to transfer money abroad, the director of the International Cooperation Bureau of the Central Commission for Discipline Inspection (CCDI) Liu Jianchao has told reporters. He also said that there is potential for collaboration between Hong Kong’s ICAC and the bureau.
“We all know that the financial system is very complicated,” Liu said on Friday, adding that corrupt officials have transferred money “through underground banks, money laundering, and [by] changing names.”
However, he said that the actual figures still needed investigation.
“Chinese officials escaping abroad have lots of channels and methods. These have happened in the past. Some have been on the run for 20 years.”
He revealed that Operation Skynet, an anti-corruption operation initiated last year, had brought around 1,000 suspects back to China, with 240 being former public officials.
Liu added that there is scope for cooperation between Hong Kong’s Independent Commission Against Corruption (ICAC) and the CCDI.
“The ICAC has accumulated a lot of anti-corruption experience in terms of government operations,” he said.
President Xi Jinping has placed emphasis on stamping out corruption after becoming Chinese President in 2012, though some analysts believe the crackdown is a means to solidify his control of the party.