{"id":24215,"date":"2014-05-07T18:42:23","date_gmt":"2014-05-07T18:42:23","guid":{"rendered":"http:\/\/berndpulch.org\/?p=24215"},"modified":"2021-07-16T21:52:52","modified_gmt":"2021-07-16T20:52:52","slug":"corrupt-chinese-money-die-geheimen-reichtumer-der-korrupten-china-kommunisten-enthullt","status":"publish","type":"post","link":"https:\/\/berndpulch.org\/de\/2014\/05\/07\/corrupt-chinese-money-die-geheimen-reichtumer-der-korrupten-china-kommunisten-enthullt\/","title":{"rendered":"Corrupt Chinese Money &#8211; Die geheimen Reicht\u00fcmer der korrupten China-Kommunisten enth\u00fcllt"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.patreon.com\/bePatron?u=54250700\" target=\"_blank\" rel=\"noopener\">Become a Patron!<\/a><br>True Information is the most valuable resource and we ask you to give back.<\/p>\n\n\n\n<div class=\"wp-block-image is-spotify-podcast-badge\"><figure class=\"aligncenter is-resized\"><a href=\"https:\/\/open.spotify.com\/show\/4162ygE3vLFUN8Oa7lyVpj\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s-ssl.wordpress.com\/i\/spotify-badge.svg\" alt=\"\" width=\"165\" height=\"40\" \/><\/a><\/figure><\/div>\n\n\n<h1 id=\"page-title\" class=\"title\">Leaked Records Reveal Offshore Holdings of China\u2019s Elite<\/h1>\n<div id=\"block-block-15\" class=\"block block-block block-15 block-block-15 odd block-without-title\">\n<div class=\"block-inner clearfix\">\n<div class=\"content clearfix\">\n<div class=\"banner-wrapper clearfix\">\n<div class=\"banner clearfix\">\n<div class=\"at-wrapper\">\n<div class=\"at\">@<\/div>\n<\/div>\n<div class=\"text-wrapper\">\n<div class=\"button-wrapper\">\n<div class=\"button\"><a href=\"http:\/\/signup.icij.org\" target=\"_blank\" rel=\"noopener\">Click here to sign up<br>\nfor our email newsletter<\/a><\/div>\n<\/div>\n<div class=\"text\">\n<h2>Get email updates on <i>Secrecy for Sale<\/i>, ICIJ and other Center for Public Integrity projects.<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"main-content-wrapper\">\n<div id=\"marquee\" style=\"float:right;\">\n<div class=\"field field-name-field-marqueeimage field-type-image field-label-hidden\">\n<div class=\"field-items\">\n<div class=\"field-item even\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" title=\"Illustration: Tim Meko\" src=\"https:\/\/i0.wp.com\/cloudfront-9.icij.org\/sites\/icij\/files\/styles\/project_marquee\/public\/republicofoffshore_homepage_withtext.jpg?resize=630%2C350\" alt=\"offshore leaks china\" width=\"630\" height=\"350\"><\/div>\n<\/div>\n<\/div>\n<div class=\"marquee-blurb\">Illustration: Tim Meko<\/div>\n<\/div>\n<footer class=\"submitted\">\n<address class=\"byline\">By <a href=\"http:\/\/www.icij.org\/journalists\/marina-walker-guevara\" target=\"_blank\" rel=\"noopener\">Marina Walker Guevara<\/a>, <a href=\"http:\/\/www.icij.org\/journalists\/gerard-ryle\" target=\"_blank\" rel=\"noopener\">Gerard Ryle<\/a>, <a href=\"http:\/\/www.icij.org\/journalists\/alexa-olesen\" target=\"_blank\" rel=\"noopener\">Alexa Olesen<\/a>, <a href=\"http:\/\/www.icij.org\/journalists\/mar-cabra\" target=\"_blank\" rel=\"noopener\">Mar Cabra<\/a>, <a href=\"http:\/\/www.icij.org\/journalists\/michael-hudson\" target=\"_blank\" rel=\"noopener\">Michael Hudson<\/a> and <a href=\"http:\/\/www.icij.org\/contributors\/christoph-giesen\" target=\"_blank\" rel=\"noopener\">Christoph Giesen<\/a><\/address>\n<div class=\"field field-name-field-pubdate field-type-date field-label-hidden\">\n<div class=\"field-items\">\n<div class=\"field-item even\"><span class=\"date-display-single\">January 21, 2014, 4:00 pm<\/span><\/div>\n<\/div>\n<\/div>\n<\/footer>\n<aside id=\"contextual-sidebar\">\n<section class=\"project-keyfindings\">\n<div class=\"view view-project-contextual-sidebar view-id-project_contextual_sidebar view-display-id-contextual_sidebar_keyfindings project-content project-sidebar project-about view-dom-id-923daca738149c0ae20a7f7efa149d09\">\n<div class=\"view-content\">\n<div class=\"views-row views-row-1 views-row-odd views-row-first views-row-last\">\n<div class=\"views-field views-field-title\">\n<h2 class=\"field-content block-title\"><a href=\"http:\/\/www.icij.org\/offshore\/key-findings\" target=\"_blank\" rel=\"noopener\">Key Findings<\/a><\/h2>\n<\/div>\n<div class=\"views-field views-field-body\">\n<div class=\"field-content\">\n<ul>\n<li>Government officials and their families and associates in <a href=\"https:\/\/www.icij.org\/offshore\/leaked-records-reveal-offshore-holdings-chinas-elite\" target=\"_blank\" rel=\"noopener\">China<\/a>,&nbsp;<a href=\"https:\/\/www.icij.org\/offshore\/offshore-companies-provide-link-between-corporate-mogul-and-azerbaijans-president\" target=\"_blank\" rel=\"noopener\">Azerbaijan<\/a>, <a href=\"https:\/\/www.icij.org\/offshore\/elites-undermine-putin-rail-against-tax-havens\" target=\"_blank\" rel=\"noopener\">Russia<\/a>, <a href=\"https:\/\/www.icij.org\/offshore\/canadian-senators-husband-shifted-money-offshore-tax-havens\" target=\"_blank\" rel=\"noopener\">Canada<\/a>, <a href=\"https:\/\/www.icij.org\/offshore\/son-leading-pakistani-politician-tied-secret-caribbean-company\" target=\"_blank\" rel=\"noopener\">Pakistan<\/a>, the <a href=\"https:\/\/www.icij.org\/offshore\/ferdinand-marcos-daughter-tied-offshore-trust-caribbean\" target=\"_blank\" rel=\"noopener\">Philippines<\/a>, <a href=\"https:\/\/www.icij.org\/offshore\/mugabe-crony-among-thai-names-secret-offshore-files\" target=\"_blank\" rel=\"noopener\">Thailand<\/a>, <a href=\"https:\/\/www.icij.org\/offshore\/disclosure-secret-offshore-documents-may-force-top-mongolian-lawmaker-resign\" target=\"_blank\" rel=\"noopener\">Mongolia<\/a> and other countries have embraced the use of covert companies and bank accounts.<\/li>\n<li>The mega-rich use complex offshore structures to own mansions, yachts, art masterpieces and other assets, gaining tax advantages and anonymity not available to average people.<\/li>\n<li>Many of the world\u2019s top\u2019s banks \u2013 including UBS, Credit Suisse and Deutsche Bank \u2013 have aggressively worked to provide their customers with secrecy-cloaked companies in the British Virgin Islands and other offshore hideaways.<\/li>\n<li>A well-paid industry of accountants, middlemen and other operatives has helped offshore patrons shroud their identities and business interests, providing shelter in many cases to money laundering or other misconduct.<\/li>\n<li>Ponzi schemers and other large-scale fraudsters routinely use offshore havens to pull off their shell games and move their ill-gotten gains.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"project-related\">\n<h2 class=\"block-title\">Related Stories<\/h2>\n<div class=\"relatedstory\">\n<p><a href=\"http:\/\/www.icij.org\/offshore\/china-who-uses-offshore-tax-havens\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"float:left;margin:0 0.5em 0.5em 0;\" src=\"https:\/\/i0.wp.com\/cloudfront-6.icij.org\/sites\/icij\/files\/styles\/article_thumbnail\/public\/multimedia\/thumbnails\/careta_chinaleaks.jpeg\" alt=\"\"><\/a>China: Who Uses Offshore Tax Havens<\/p>\n<\/div>\n<div class=\"relatedstory\">\n<p><a href=\"http:\/\/www.icij.org\/offshore\/graphic-where-china-goes-offshore\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"float:left;margin:0 0.5em 0.5em 0;\" src=\"https:\/\/i0.wp.com\/cloudfront-8.icij.org\/sites\/icij\/files\/styles\/article_thumbnail\/public\/multimedia\/thumbnails\/china-favorite-tax-havens.gif\" alt=\"\"><\/a>Graphic: Where China Goes Offshore<\/p>\n<\/div>\n<div class=\"relatedstory\">\n<p><a href=\"http:\/\/www.icij.org\/blog\/2014\/01\/how-we-did-offshore-leaks-china\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"float:left;margin:0 0.5em 0.5em 0;\" src=\"https:\/\/i0.wp.com\/cloudfront-10.icij.org\/sites\/icij\/files\/styles\/article_thumbnail\/public\/blog-thumbnails\/china-leaks-920.jpg\" alt=\"\"><\/a>How we did Offshore Leaks China<\/p>\n<\/div>\n<div class=\"relatedstory\">\n<p><a href=\"http:\/\/www.icij.org\/project\/zhong-guo-chi-jin-rong-jie-mi\/ji-mi-wen-jian-pi-lu-zhong-guo-jing-ying-de-hai-wai-zi-chan\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"float:left;margin:0 0.5em 0.5em 0;\" src=\"https:\/\/i0.wp.com\/cloudfront-7.icij.org\/sites\/icij\/files\/styles\/article_thumbnail\/public\/republicofoffshore_chinese_homepage_withtext_2.jpg\" alt=\"\"><\/a>\u673a\u5bc6\u6587\u4ef6\u62ab\u9732\u4e2d\u56fd\u7cbe\u82f1\u7684\u6d77\u5916\u8d44\u4ea7<\/p>\n<\/div>\n<div class=\"relatedstory\">\n<p>Who&#8217;s Who in China Leaks<\/p>\n<\/div>\n<div class=\"relatedstory\">\n<p><a href=\"http:\/\/www.icij.org\/offshore\/unlocking-chinas-secrets\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"float:left;margin:0 0.5em 0.5em 0;\" src=\"https:\/\/i0.wp.com\/cloudfront-9.icij.org\/sites\/icij\/files\/styles\/article_thumbnail\/public\/chinawhite.jpg\" alt=\"\"><\/a>Unlocking China\u2019s Secrets<\/p>\n<\/div>\n<div class=\"relatedstory\">\n<p><a href=\"http:\/\/www.icij.org\/offshore\/chinas-scandal-torn-oil-industry-embraces-tax-havens\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"float:left;margin:0 0.5em 0.5em 0;\" src=\"https:\/\/i0.wp.com\/cloudfront-6.icij.org\/sites\/icij\/files\/styles\/article_thumbnail\/public\/sinopec-china.jpg\" alt=\"\"><\/a>China\u2019s Scandal-Torn Oil Industry Embraces Tax Havens<\/p>\n<\/div>\n<div class=\"relatedstory\">\n<p><a href=\"http:\/\/www.icij.org\/blog\/2014\/01\/chinaleaks-stories-censored-mainland-china\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"float:left;margin:0 0.5em 0.5em 0;\" src=\"https:\/\/i0.wp.com\/cloudfront-8.icij.org\/sites\/icij\/files\/styles\/article_thumbnail\/public\/blog-thumbnails\/access-denied.jpg\" alt=\"\"><\/a>\u201cChinaleaks\u201d stories censored in mainland China<\/p>\n<\/div>\n<div class=\"relatedstory\">\n<p><a href=\"http:\/\/www.icij.org\/blog\/2013\/04\/highlights-offshore-leaks-so-far\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"float:left;margin:0 0.5em 0.5em 0;\" src=\"https:\/\/i0.wp.com\/cloudfront-10.icij.org\/sites\/icij\/files\/styles\/article_thumbnail\/public\/blog-thumbnails\/offshore-leaks-front-pages.jpg\" alt=\"\"><\/a>Highlights of Offshore Leaks so far<\/p>\n<\/div>\n<div class=\"relatedstory\">\n<p><a href=\"http:\/\/www.icij.org\/offshore\/video-tax-havens-101-high-cost-offshore\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"float:left;margin:0 0.5em 0.5em 0;\" src=\"https:\/\/i0.wp.com\/cloudfront-7.icij.org\/sites\/icij\/files\/styles\/article_thumbnail\/public\/multimedia\/thumbnails\/play-button-tax-havens.jpg\" alt=\"\"><\/a>Video: Tax Havens 101<\/p>\n<\/div>\n<div class=\"relatedstory\">\n<p><a href=\"http:\/\/www.icij.org\/offshore\/secret-files-expose-offshores-global-impact\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"float:left;margin:0 0.5em 0.5em 0;\" src=\"https:\/\/i0.wp.com\/cloudfront-9.icij.org\/sites\/icij\/files\/styles\/article_thumbnail\/public\/secrecyforsale_cpi_header.jpg\" alt=\"\"><\/a>Secret Files Expose Offshore\u2019s Global Impact<\/p>\n<\/div>\n<div class=\"relatedstory\">\n<p><a href=\"http:\/\/www.icij.org\/blog\/2013\/04\/release-offshore-records-draws-worldwide-response\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"float:left;margin:0 0.5em 0.5em 0;\" src=\"https:\/\/i0.wp.com\/cloudfront-6.icij.org\/sites\/icij\/files\/styles\/article_thumbnail\/public\/blog-thumbnails\/francois-hollande-tax-havens.jpg\" alt=\"\"><\/a>Release of offshore records draws worldwide response<\/p>\n<\/div>\n<div class=\"relatedstory\">\n<p><a href=\"http:\/\/www.icij.org\/offshore\/map-offshore-leaks-revelations\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"float:left;margin:0 0.5em 0.5em 0;\" src=\"https:\/\/i0.wp.com\/cloudfront-8.icij.org\/sites\/icij\/files\/styles\/article_thumbnail\/public\/multimedia\/thumbnails\/offshore-leaks-map.png\" alt=\"\"><\/a>Map: The Offshore Leaks Revelations<\/p>\n<\/div>\n<div class=\"relatedstory\">\n<p><a href=\"http:\/\/www.icij.org\/offshore\/interactive-stash-your-cash\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"float:left;margin:0 0.5em 0.5em 0;\" src=\"https:\/\/i0.wp.com\/cloudfront-10.icij.org\/sites\/icij\/files\/styles\/article_thumbnail\/public\/multimedia\/thumbnails\/pt-stashyrcash.jpg\" alt=\"\"><\/a>Interactive: Stash Your Cash<\/p>\n<\/div>\n<\/section>\n<section class=\"project-about\">\n<div class=\"view view-project-contextual-sidebar view-id-project_contextual_sidebar view-display-id-contextual_sidebar_about project-content project-sidebar project-about view-dom-id-2a7252d111e854d16d8885cb5bab44cb\">\n<div class=\"view-content\">\n<div class=\"views-row views-row-1 views-row-odd views-row-first views-row-last\">\n<div>\n<div>\n<h2 class=\"block-title\"><a href=\"http:\/\/www.icij.org\/offshore\/about-project-secrecy-sale\" target=\"_blank\" rel=\"noopener\">About This Project<\/a><\/h2>\n<div>The goals, team members, and media partners of this multi-year project.<\/div>\n<p><a href=\"http:\/\/www.icij.org\/offshore\/about-project-secrecy-sale\" target=\"_blank\" rel=\"noopener\">Read more<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"project-knowmore last\">\n<h2 class=\"block-title\">Know More<\/h2>\n<div class=\"view view-project-contextual-sidebar view-id-project_contextual_sidebar view-display-id-contextual_sidebar_knowmore project-content project-sidebar view-dom-id-3d32bd19dab74946518b47249cfacdde\">\n<div class=\"view-content\">\n<div>\n<p>Do you have important information on this topic? A question or comment? Pass it on to ICIJ.<\/p>\n<\/div>\n<\/div>\n<div class=\"view-footer\">\n<p><a class=\"button\" href=\"http:\/\/www.icij.org\/contact\" target=\"_blank\" rel=\"noopener\">Get in Touch<\/a><\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/aside>\n<div class=\"field field-name-body field-type-text-with-summary field-label-hidden\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p><strong>Files shed light on nearly 22,000 tax haven clients from Hong Kong and mainland China.<\/strong><\/p>\n<p><em><a href=\"https:\/\/www.icij.org\/project\/zhong-guo-chi-jin-rong-jie-mi\/ji-mi-wen-jian-pi-lu-zhong-guo-jing-ying-de-hai-wai-zi-chan\" target=\"_blank\" rel=\"noopener\">Note: A Chinese version of this story is available here<\/a><\/em><\/p>\n<p>Close relatives of China\u2019s top leaders have held secretive offshore companies in tax havens that helped shroud the Communist elite\u2019s wealth, a leaked cache of documents reveals.<\/p>\n<p>The confidential files include details of a real estate company co-owned by current President Xi Jinping\u2019s brother-in-law and British Virgin Islands companies set up by former Premier Wen Jiabao\u2019s son and also by his son-in-law.<\/p>\n<p>Nearly 22,000 offshore clients with addresses in mainland China and Hong Kong appear in the files obtained by the <a href=\"http:\/\/www.icij.org\" target=\"_blank\" rel=\"noopener\">International Consortium of Investigative Journalists<\/a>. &nbsp;Among them are some of China\u2019s most powerful men and women \u2014 including at least 15 of China\u2019s richest, members of the National People\u2019s Congress and executives from state-owned companies entangled in corruption scandals.<\/p>\n<p>PricewaterhouseCoopers, UBS and other Western banks and accounting firms play a key role as middlemen in helping Chinese clients set up trusts and companies in the British Virgin Islands, Samoa and other offshore centers usually associated with hidden wealth, the records show. For instance, Swiss financial giant Credit Suisse helped Wen Jiabao\u2019s son create his BVI company while his father was leading the country.<\/p>\n<p>The files come from two offshore firms \u2014 Singapore-based <a href=\"http:\/\/www.icij.org\/offshore\/trusted-service-provider-blends-invisible-offshore-world\" target=\"_blank\" rel=\"noopener\">Portcullis TrustNet<\/a> and BVI-based <a href=\"http:\/\/www.icij.org\/offshore\/caribbean-go-between-provided-shelter-far-away-frauds-documents-show\" target=\"_blank\" rel=\"noopener\">Commonwealth Trust Limited<\/a> \u2014 that help clients create offshore companies, trusts and bank accounts. They are part of a <a href=\"http:\/\/www.icij.org\/offshore\" target=\"_blank\" rel=\"noopener\">cache of 2.5 million leaked files<\/a> that ICIJ has sifted through with help from more than 50 reporting partners in Europe, North America, Asia and other regions.<\/p>\n<p>Since last April, ICIJ\u2019s stories have triggered <a href=\"http:\/\/www.icij.org\/blog\/2013\/04\/release-offshore-records-draws-worldwide-response\" target=\"_blank\" rel=\"noopener\">official inquiries, high-profile resignations and policy changes<\/a> around the world.<\/p>\n<p>Until now, the details on China and Hong Kong had not been disclosed.<\/p>\n<p>The data illustrates the outsized dependency of the world\u2019s second largest economy on tiny islands thousands of miles away. &nbsp;As the country has moved from an insular communist system to a socialist\/capitalist hybrid, China has become a leading market for offshore havens that peddle secrecy, tax shelters and streamlined international deal making.<\/p>\n<p>Every corner of China\u2019s economy, from oil to green energy and from mining to arms trading, appears in the ICIJ data.<\/p>\n<p><span class=\"image-caption-container image-caption-container-right\" style=\"display:inline-block;float:right;margin:10px;width:301px;\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"caption caption-processed\" style=\"width:301px;height:201px;\" title=\"Xi Jinping and Wen Jiabao: relatives appear in ICIJ's data.\" src=\"https:\/\/i0.wp.com\/www.icij.org\/sites\/icij\/files\/jinping-jiabao.jpg\" alt=\"Xi Jinping and Wen Jiabao\"><span class=\"image-caption\" style=\"display:block;\">Xi Jinping and Wen Jiabao: relatives appear in ICIJ&#8217;s data.<\/span><\/span><\/p>\n<p>Chinese officials aren\u2019t required to disclose their assets publicly and until now citizens have remained largely in the dark about the parallel economy that can allow the powerful and well-connected to avoid taxes and keep their dealings secret. By some estimates, between $1 trillion and $4 trillion in untraced assets have left the country since 2000.<\/p>\n<p>The growing onshore and offshore wealth of China\u2019s elites \u201cmay not be strictly illegal,\u201d but it is often tied to \u201cconflict of interest and covert use of government power,\u201d said <a href=\"http:\/\/www.cmc.edu\/academic\/faculty\/profile.php?Fac=590\" target=\"_blank\" rel=\"noopener\">Minxin Pei<\/a>, a political scientist at Claremont McKenna College in California. \u201cIf there is real transparency, then the Chinese people will have a much better idea of how corrupt the system is [and] how much wealth has been amassed by government officials through illegal means.\u201d<\/p>\n<p>Top-level corruption is a politically sensitive issue in China as the country&#8217;s economy cools and its wealth gap continues to widen. &nbsp;The country\u2019s leadership has cracked down on journalists who have exposed the hidden wealth of top officials and their families as well as citizens who have demanded that government officials disclose their personal assets.<\/p>\n<p>In November, a mainland Chinese news organization that was working with ICIJ to analyze the offshore data withdrew from the reporting partnership, explaining that authorities had warned it not to publish anything about the material.<\/p>\n<p><strong>&#8212;&#8212;&#8212;&#8212;&#8212;-<br>\nREAD: <a href=\"http:\/\/www.icij.org\/blog\/2014\/01\/how-we-did-offshore-leaks-china\" target=\"_blank\" rel=\"noopener\">HOW WE WORKED TO REPORT THIS STORY SECURELY IN CHINA<\/a><br>\n&#8212;&#8212;&#8212;&#8212;&#8212;-<\/strong><\/p>\n<p>ICIJ is keeping the identity of the news outlet confidential to protect journalists from government retaliation. Other partners in the investigation include the Hong Kong newspaper <em>Ming Pao<\/em>, the Taiwanese magazine <em>CommonWealth<\/em> and the German newspaper <em>S\u00fcddeutsche Zeitung<\/em>.<\/p>\n<p>The ICIJ team spent months sifting through the files and the leaked lists of offshore users. In most cases, names were registered in Romanized form, not Chinese characters, making matching extremely difficult. Many offshore users had provided a passport as well as an address when they set up their companies, which made it possible to confirm identities in many but not all cases. Some suspected princelings and officials in the files could not be confirmed and have not been included in this story.<\/p>\n<p>Along with the China and Hong Kong names, ICIJ\u2019s files also include the names of roughly 16,000 offshore clients from Taiwan. ICIJ will continue to publish stories with its partners in the next few days and will release the Greater China names on its <a href=\"http:\/\/offshoreleaks.icij.org\/\" target=\"_blank\" rel=\"noopener\">Offshore Leaks Database<\/a> on Jan. 23.<\/p>\n<p><em>Who\u2019s Who in China\u2019s Offshore Circles: Tap to see where the money goes<\/em><\/p>\n<div class=\"offshoreChina\" lang=\"en\" style=\"width:95%;\">Graphic: Chris Zubak-Skees. Illustrations: Jes\u00fas P\u00e9rez. Photos: AP, Ming Pao, Ang\u00e9lica Rivera de Pe\u00f1a (CC BY-SA), World Economic Forum (CC BY-SA) and White House. The Red NobilityThe WealthyDeng JiaguiBrother-in-law of President Xi Jinping Wen YunsongSon of former Premier Wen JiabaoLiu ChunhangSon-in-law of former Premier Wen Jiabao Hu YishiFirst cousin once removed of former President Hu Jintao Li XiaolinDaughter of former Premier Li Peng Wu JianchangSon-in-law of paramount leader Deng Xiaoping Che FengSon-in-law of a former central bank governorWang ZhiSon of a former vice presidentWang JunSon of a former vice presidentFu LiangSon of one of &#8216;Eight Elders&#8217; of the Communist Party Yeh Shuen-jiNephew of one of PRC&#8217;s founders Wang JingjingGrandaughter of a former vice presidentSu ZhijunGrandson of one of best-known PLA commandersMa HuatengCo-founder of Internet giant TencentYang HuiyanChina&#8217;s richest womanZhang XinCo-founder of property developer SOHO China Zhang ZhidongCo-founder of Internet giant TencentShen GuojunChairman of Yintai GroupJia YuetingChairman of web video giant Leshi Huang GuangyuJailed founder of GOME appliances chainDu JuanGOME executive and wife of founder Lu ZhiqiangChairman of OceanwideLi JinyuanChairman of Tiens GroupDai ZhikangFounder of Zendai Investment Group Du ShuanghuaChairman of Rizhao Holding Group Ma JianrongChairman of Shenzhou InternationalWen YiboFounder of Sound GlobalShi ZhengrongFounder of solar-panel maker SuntechZhou ZhengyiJailed Shanghai property developer<\/div>\n<h4>Princelings go offshore<\/h4>\n<p>China&#8217;s Politburo Standing Committee is the all-powerful group of seven (formerly nine) men who run the Communist Party and the country. The records obtained by ICIJ show that relatives of at least five current or former members of this small circle have incorporated companies in the Cook Islands or British Virgin Islands.<\/p>\n<p>China\u2019s \u201cred nobility\u201d \u2014 elites tied by blood or marriage to the current leadership or Party elders \u2014 are also popularly known as \u201cprincelings.\u201d Ordinary Chinese have grown increasingly angry over their vast wealth and what many see as the hypocrisy of officials who tout \u201cpeople-first\u201d ideals but look the other way while their families peddle power and influence for personal gain.<\/p>\n<p>The leaked offshore records include details of a BVI company <a href=\"https:\/\/www.documentcloud.org\/documents\/1006058-excellence-effort-property-development-limited.html\" target=\"_blank\" rel=\"noopener\">50 percent owned<\/a> by President Xi\u2019s brother-in-law&nbsp;Deng Jiagui. The husband of Xi\u2019s older sister, Deng&nbsp;is a <a href=\"http:\/\/www.bloomberg.com\/news\/2012-06-29\/xi-jinping-millionaire-relations-reveal-fortunes-of-elite.html\" target=\"_blank\" rel=\"noopener\">multimillionaire real estate developer<\/a> and an investor in metals used in cell phones and other electronics. The records show the other half of <a href=\"https:\/\/www.documentcloud.org\/documents\/1007940-excellence-effort-property-development-limited.html\" target=\"_blank\" rel=\"noopener\">Excellence Effort Property Development<\/a> was owned by yet another BVI company belonging to Li Wa and Li Xiaoping, property tycoons who made news in July by <a href=\"http:\/\/www.bloomberg.com\/news\/2013-07-27\/excellence-group-wins-two-shenzhen-qianhai-plots-for-2-billion.html\" target=\"_blank\" rel=\"noopener\">winning a $2 billion bid<\/a> to purchase commercial real estate in Shenzhen.<\/p>\n<p>Since taking over as the Communist Party\u2019s top official in 2012,&nbsp;Xi&nbsp;has sought to burnish his image with an aggressive anti-graft campaign, promising to go after official corruption involving both low-level \u201cflies\u201d and high-level \u201ctigers.\u201d Yet he has <a href=\"http:\/\/www.hrw.org\/news\/2013\/10\/24\/china-first-trial-anti-corruption-activists\" target=\"_blank\" rel=\"noopener\">crushed a grassroots movement<\/a> that called for government officials to publicly declare their assets. Wen Jiabao, who stepped down as premier in 2013 after a decade-long tenure, also styled himself as a reformer, cultivating an image of grandfatherly concern for China\u2019s poor.<\/p>\n<p>The ICIJ offshore files reveal that Wen\u2019s son Wen Yunsong set up a BVI-registered company, <a href=\"https:\/\/www.documentcloud.org\/documents\/1006059-trend-gold-consultants-limited.html\" target=\"_blank\" rel=\"noopener\">Trend Gold Consultants<\/a>, with help from the Hong Kong office of Credit Suisse in 2006. Wen Yunsong was the <a href=\"https:\/\/www.documentcloud.org\/documents\/1007942-wenjunsong-redacted.html\" target=\"_blank\" rel=\"noopener\">lone director and shareholder of the firm<\/a>, which appears to have been dissolved in 2008.<\/p>\n<p><span style=\"line-height:1.3;\">Bare-bones company structures are often created to open bank accounts in the offshore firm\u2019s name, helping obscure the relationship to the real account owner. It isn\u2019t immediately clear from the documents what Trend Gold Consultants was used for. A U.S.-educated venture capitalist, Wen Yunsong co-founded a China-focused private equity firm and in 2012 <a href=\"http:\/\/www.bloomberg.com\/news\/2012-02-22\/premier-wen-s-son-named-chairman-of-state-owned-china-satellite.html\" target=\"_blank\" rel=\"noopener\">became chairman<\/a> of China\u2019s Satellite Communications Co., a state-owned firm that aspires to be Asia\u2019s largest satellite operator.<\/span><\/p>\n<p>ICIJ made repeated attempts to reach Wen Yunsong and other individuals named in this story. Only a few responded. Wen was among those who did not. Citing confidentiality rules, a Credit Suisse spokesman said the bank is \u201cunable to comment on this matter.\u201d<\/p>\n<p>The ICIJ files also shed light on the BVI\u2019s previously unreported role in a burgeoning scandal involving Wen Jiabao\u2019s daughter, Wen Ruchun, also known as Lily Chang. <em>The New York Times<\/em> <a href=\"http:\/\/dealbook.nytimes.com\/2013\/11\/13\/a-banks-fruitful-ties-to-a-member-of-chinas-elite\/\" target=\"_blank\" rel=\"noopener\">has reported<\/a> that JPMorgan Chase &amp; Co. paid a firm that she ran, Fullmark Consultants, $1.8 million in consulting fees. U.S. securities regulators are investigating the relationship as part of a probe into the bank\u2019s alleged use of princelings to increase its influence in China.<\/p>\n<p>Fullmark Consultants appears to have been <a href=\"https:\/\/www.documentcloud.org\/documents\/1006067-fullmark-consultants-limited.html\" target=\"_blank\" rel=\"noopener\">set up<\/a> in a manner that obscured Wen Ruchun\u2019s relationship to the firm, the ICIJ files indicate.&nbsp;Her name does not show up in any of the incorporation documents in the ICIJ data, though a &#8216;Lily Chang&#8217; is CC\u2019d in one August, <a href=\"https:\/\/www.documentcloud.org\/documents\/1007952-lilychangccdfullmarkemail.html\" target=\"_blank\" rel=\"noopener\">2009 email correspondence<\/a> about the company.&nbsp;<span style=\"line-height:1.3;\">Her husband Liu Chunhang, a former Morgan Stanley finance guru, created Fullmark Consultants in the BVI in 2004 and was the sole director and shareholder of the firm until 2006, the same year he took a government job at the agency that regulates China\u2019s banking industry.<\/span><\/p>\n<p>Liu transferred control of the company, the ICIJ files show, to a Wen family friend, Zhang Yuhong, a wealthy businesswoman and colleague of Wen Jiabao\u2019s brother. The <em>Times<\/em> reported that Zhang also helped control other Wen family assets including diamond and jewelry ventures.&nbsp;<span style=\"line-height:1.3;\">&nbsp;<\/span><\/p>\n<p>The ICIJ files show that offshore provider <a href=\"http:\/\/www.icij.org\/offshore\/trusted-service-provider-blends-invisible-offshore-world\" target=\"_blank\" rel=\"noopener\">Portcullis TrustNet<\/a> billed UBS AG for a certificate of good standing for Fullmark Consultants in October 2005, indicating a business relationship between Fullmark and the Swiss bank. In response to ICIJ\u2019s questions, UBS issued a statement saying its \u201cknow-your-client\u201d policies as well as procedures to deal with politically-sensitive clients are among \u201cthe strictest in the industry.\u201d Liu and Zhang did not respond to ICIJ&#8217;s requests for comment.<\/p>\n<p>A 2007 U.S. Department of State <a href=\"http:\/\/cablegatesearch.wikileaks.org\/cable.php?id=07SHANGHAI622\" target=\"_blank\" rel=\"noopener\">cable<\/a> passed along a source\u2019s tip that Premier Wen was \u201cdisgusted with his family\u2019s activities,\u201d and that \u201cWen\u2019s wife and children all have a reputation as people who can \u2018get things done\u2019 for the right price.\u201d The cable, part of the Wikileaks document dump, reported that Wen\u2019s kin \u201cdid not necessarily take bribes, [but] they are amenable to receiving exorbitant \u2018consulting fees.\u2019 \u201d<\/p>\n<p>The records also include incorporations by relatives of Deng Xiaoping, former Premier Li Peng, and former President Hu Jintao.<\/p>\n<p>China experts say that the growing wealth and business interests of the&nbsp;princelings, including offshore holdings, are a dangerous liability for the ruling Communist Party but that people in leadership positions are too involved to stop it.<\/p>\n<p>\u201cWhat\u2019s the point of running the Communist Party if you can\u2019t get a couple billion for your family?\u201d&nbsp;said <a href=\"http:\/\/www.harrismoure.com\/our-people\/steve-dickinson\" target=\"_blank\" rel=\"noopener\">Steve&nbsp;Dickinson<\/a>, a China-based American lawyer who has investigated fraud cases involving BVI companies. \u201cThe issue is enormous and has tremendous significance for China, and the fact that everybody dances around it and doesn\u2019t want to talk about it is understandable but scandalous.\u201d<span style=\"line-height:1.3;\">&nbsp;<\/span><\/p>\n<h4>China embraces offshore<\/h4>\n<p><span style=\"line-height:1.3;\">The story of China\u2019s involvement with the offshore world begins with paramount leader Deng Xiaoping\u2019s deepening of economic reforms in the early 1990s.&nbsp;<\/span><\/p>\n<p>Laws reorganizing China\u2019s economy drove many Chinese offshore because they were written with state-owned enterprises in mind, not fledgling ventures like the entrepreneur trying to \u201cmarket the latest iPhone app,\u201d according to <a href=\"http:\/\/www.law.gwu.edu\/faculty\/profile.aspx?id=7587\" target=\"_blank\" rel=\"noopener\">Don Clarke<\/a>, a China specialist at the George Washington University Law School in Washington, D.C.<\/p>\n<p>Western bankers, accountants and investors wary of doing business on strictly Chinese terms also pushed the offshore model.<\/p>\n<p>\u201cIt was us, the foreigners, that imposed this,\u201d said Rocky Lee, head of the Greater China corporate law practice of Cadwalader, Wickersham &amp; Taft. \u201cIt had to do with the foreign investors\u2019 general discomfort with Chinese rules and regulations.\u201d<\/p>\n<p>Other factors \u2014 including tightened capital controls within China as a result of the 1990s Asian debt crisis \u2014 also nudged Chinese offshore. Many had flocked to Hong Kong, then still a British territory, to incorporate businesses. As the 1997 handover back to China approached, though, Hong Kong itself began to look risky and many companies sought more far-flung offshore destinations.<\/p>\n<p>The British Virgin Islands became a favorite haven for Chinese wanting to move businesses and cash offshore.<\/p>\n<p>China\u2019s tax regime favored foreign investment, helping fuel the push to incorporate in the BVI and other offshore centers. Some Chinese manufacturers, for example, reduced their taxes by a maneuver known as \u201cround-tripping\u201d \u2014 setting up subsidiaries outside the country, then selling their products at low cost to the subsidiaries, allowing the parent companies to avoid taxes by showing little or no profits inside China. The offshore entities in turn resold the goods at profitable markup \u2014 then slipped the profits back to the parents as untaxed \u201cforeign investment\u201d from the BVI or Hong Kong.<\/p>\n<p>Today <a href=\"http:\/\/www.bvi.gov.vg\/news\/bvi-house-asia-officially-launched-open-business%20\" target=\"_blank\" rel=\"noopener\">40 percent<\/a> of the BVI\u2019s offshore business comes from China and other Asian nations, according to BVI authorities.<\/p>\n<blockquote><p><strong style=\"font-style:italic;\"><span style=\"line-height:1.3;\">Every corner of China\u2019s economy, from oil to green energy and from mining to arms trading, appears in the ICIJ data<\/span><\/strong><\/p><\/blockquote>\n<p>Frank Savage, the BVI\u2019s governor from 1998 to 2002, says the islands helped cultivate the relationship by persuading Chinese authorities that they were a \u201cwell-regulated territory with a robust and sound legal system.\u201d<\/p>\n<p>Critics of the offshore system, though, see the BVI in a different light \u2014 as a \u201cno-questions-asked\u201d haven for shadowy dealings. Tax Justice Network, an advocacy group, says BVI offshore entities have been linked to \u201c<a href=\"http:\/\/www.financialsecrecyindex.com\/PDF\/BritishVirginIslands.pdf\" target=\"_blank\" rel=\"noopener\">scandal after scandal after scandal<\/a>\u201d \u2014 the result of a corporate secrecy regime that creates an \u201ceffective carte blanche for BVI companies to hide and facilitate all manner of crimes and abuses.\u201d<\/p>\n<p>Among the important Chinese who went offshore in the late 1990s was Fu Liang, the son of Peng Zhen, one of the \u201cEight Elders\u201d of the Communist Party and a top leader of the National People\u2019s Congress in the 1980s.<\/p>\n<p>Offshore Leaks records show Fu \u2014 who has invested in yachting clubs and golf courses on the mainland \u2014 controlled at least five offshore companies established in the BVI between 1997 and 2000. He used one of them, South Port Development Limited, to <a href=\"http:\/\/www.philstar.com\/business\/98004\/holiday-inn-manila-has-new-foreign-owner#disqus_thread%20\" target=\"_blank\" rel=\"noopener\">acquire<\/a> a Philippines hotel in 2000.<\/p>\n<p>TrustNet, the offshore services provider, helped Fu set up some of his offshore companies. By 2000, Trustnet was among the offshore services firms that were making an all-out drive to sign up clients from China, doing marketing meetings at the Shanghai offices of what were then known as the \u201cBig 5\u201d accounting firms: KPMG, Ernst &amp; Young, Pricewaterhouse, Deloitte &amp; Touche, and Arthur Andersen.<\/p>\n<p>The audit firm now known as PricewaterhouseCoopers helped incorporate more than 400 offshore entities through TrustNet for clients from the mainland, Hong Kong and Taiwan, the ICIJ records show. Swiss banking giant UBS helped set up more than 1,000 offshore structures via TrustNet for clients from those three markets.<\/p>\n<p>UBS Hong Kong helped <a href=\"http:\/\/www.forbes.com\/profile\/yang-huiyan\/\" target=\"_blank\" rel=\"noopener\">Yang Huiyan<\/a>, China&#8217;s richest woman, with an estimated net worth of US$ 8.3 billion, establish a BVI company in 2006. Yang, who inherited a real estate fortune from her father, did not respond to questions about her offshore company, <a href=\"https:\/\/www.documentcloud.org\/documents\/1007969-joy-house-enterprises-datasheet.html\" target=\"_blank\" rel=\"noopener\">Joy House Enterprises Limited<\/a>.<\/p>\n<p>The following year the Swiss bank referred another Chinese real estate billionaire, Zhang Xin, to TrustNet. Zhang, founder of Soho China, a company that has reshaped much of the Beijing skyline, recently made headlines by buying a $26 million Manhattan townhouse. &nbsp;Through a representative, Zhang declined to answer questions about her BVI company <a href=\"https:\/\/www.documentcloud.org\/documents\/1007980-commune-investment-ltd.html\" target=\"_blank\" rel=\"noopener\">Commune Investment Ltd.<\/a>, a name similar to that of her exclusive boutique hotel outside Beijing, the Commune by the Great Wall.<\/p>\n<p><a href=\"http:\/\/www.forbes.com\/profile\/jinyuan-li\/\" target=\"_blank\" rel=\"noopener\">Li Jinyuan<\/a>, a business tycoon and philanthropist with a net worth estimated at $1.2 billion in 2011, was director of seven BVI companies that PricewaterhouseCoopers helped incorporate between 2004 and 2008. According to the ICIJ files, the BVI companies appear to be connected to his Tiens Group conglomerate, which has interests in biotechnology, tourism, e-commerce and real estate.<\/p>\n<p>In a 2005 <a href=\"https:\/\/www.documentcloud.org\/documents\/1007977-meeting-notes-15jun.html\" target=\"_blank\" rel=\"noopener\">marketing memo<\/a> marked \u201cstrictly private and confidential,\u201d TrustNet staffers were encouraged to improve ties with Credit Suisse in Hong Kong. They courted Credit Suisse and UBS with wine and cheese sessions. On the mainland, where foreign banks were restricted, they took a different tack: \u201cIn Shanghai, we will target international law firms and accounting firms,\u201d the 2005 memo says.<\/p>\n<p>The <a href=\"https:\/\/www.documentcloud.org\/documents\/1008122-brochureeng211013.html\" target=\"_blank\" rel=\"noopener\">marketing campaign<\/a> paid off. The number of companies TrustNet set up for clients in China, Hong Kong and Taiwan tripled from 1,500 to 4,800 between 2003 and 2007.<\/p>\n<p>The TrustNet clients who incorporated companies during this period include two current delegates to the National People&#8217;s Congress, China&#8217;s legislature.<\/p>\n<p>Wei Jianghong, who represents Anhui province in the legislature while serving as chairman of state-owned Tongling Nonferrous Metals, was a director of <a href=\"https:\/\/www.documentcloud.org\/documents\/1007978-tong-guan.html\" target=\"_blank\" rel=\"noopener\">Tong Guan Resources Holdings<\/a>, a BVI company set up in 2006. Tongling used Tong Guan to invest $10 million in a $50 million copper processing project in Chile in 2007.<\/p>\n<p>Another delegate with offshore holdings is Ma Huateng, the founder of China&#8217;s leading online chat company, Tencent. Ma is worth $10 billion and is ranked <a href=\"http:\/\/www.forbes.com\/profile\/ma-huateng\/\" target=\"_blank\" rel=\"noopener\">No. 5 on Forbes\u2019 list<\/a> of billionaires in China. In 2007, he became director of <a href=\"https:\/\/www.documentcloud.org\/documents\/1007979-tch-pi-ltd.html\" target=\"_blank\" rel=\"noopener\">TCH Pi Limited<\/a> in the BVI with fellow Tencent founder Zhang Zhidong.<\/p>\n<p>A spokeswoman for Ma said TCH Pi is a Tencent company that \u201chas nothing to do with [Ma or Zhang] personally,\u201d but the firm doesn&#8217;t show up in Tencent corporate filings, and its purpose isn&#8217;t clear.<\/p>\n<h4>Profits and corruption<\/h4>\n<p>Things have changed dramatically for China since it first dipped its toe into the offshore world. The country is wealthier and offshore centers serve increasingly as channels not only for capital that \u201cround-trips\u201d out of the country and back again, but also for overseas investment and accessing markets for metals, minerals and other resources.<\/p>\n<p>Defenders of China\u2019s offshore push say the offshore system has helped boost the country\u2019s economy.<\/p>\n<p>\u201cI think we should face the reality, which is that Chinese capital is flowing out. I think it\u2019s actually a beneficial thing,\u201d said Mei Xinyu,&nbsp;a researcher at China\u2019s Commerce Ministry. \u201cOf course I support the idea that a company should incorporate in its host country. But if the host country can&#8217;t provide the right environment, then incorporating the company in an offshore center is actually a practical choice.\u201d<\/p>\n<p>With markets in China often hamstrung by red tape and government intervention, incorporating offshore can smooth the way to do business, said <a href=\"http:\/\/www.st-andrews.ac.uk\/intrel\/people\/index.php\/wbv2.html\" target=\"_blank\" rel=\"noopener\">William Vlcek<\/a>, author of <em><a href=\"http:\/\/www.amazon.com\/gp\/product\/0230522203\/ref=as_li_qf_sp_asin_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0230522203&amp;linkCode=as2&amp;tag=thecenforpu0d-20\" target=\"_blank\" rel=\"noopener\">Offshore Finance and Small States: Sovereignty, Size and Money<\/a><\/em>.<\/p>\n<p>There\u2019s also evidence, though, that many Chinese companies and individuals have used offshore entities to engage in illicit or illegal behavior.<\/p>\n<p>In September Zhang Shuguang, a former high-level Chinese railway executive, pleaded guilty to criminal charges in the wake of allegations that he\u2019d funneled $2.8 billion into offshore accounts. An internal government report released by the Bank of China revealed that public officials \u2014 including executives at state-owned companies \u2014 had <a href=\"https:\/\/www.documentcloud.org\/documents\/1008119-bankofchinareportoncapitalflight.html\" target=\"_blank\" rel=\"noopener\">embezzled more than $120 billion out of China<\/a> since the mid-1980s, some of it funneled through the BVI.<\/p>\n<p>Portcullis TrustNet helped state-run shipping giant Cosco incorporate a BVI company in 2000. Among the numerous directors of Cosco Information Technology Limited were current Cosco Group chairman Ma Zehua and Song Jun, an executive who would stand trial in 2011 for embezzlement and bribery. After Cosco sent Song to help oversee a Qingdao subsidiary in 2001, he set up a fake BVI joint venture partner and used it to siphon millions from the building of Qingdao\u2019s gleaming Cosco Plaza, prosecutors said. State news service Xinhua <a href=\"http:\/\/www.china.org.cn\/china\/2011-10\/18\/content_23652874.htm\" target=\"_blank\" rel=\"noopener\">said<\/a> he embezzled $6 million, took $1 million in bribes from a Taiwanese business partner and purchased 37 apartments in Beijing, Tianjin and Qingdao with his ill-gotten earnings. His trial was adjourned but no verdict was publicly announced.<\/p>\n<p>China\u2019s corruption-plagued oil industry \u2014 which recently has been the target of criminal investigations that have led to the suspension of key oil executives \u2014 is a big player in the offshore world. China\u2019s three big state-owned oil companies, which are counted among the largest companies in the world, are linked to dozens of BVI firms that show up in the ICIJ data.<\/p>\n<p>Former PetroChina executive Li Hualin, who was dismissed in August after coming under investigation for&nbsp;alleged \u201cserious violations of discipline\u201d, often a party shorthand for corruption, was the director of two BVI companies, the ICIJ files reveal.<\/p>\n<p>While some of these offshore firms are disclosed in corporate filings, several others linked to individual executives \u2014 including Zhang Bowen of PetroChina\u2019s natural gas distribution arm Kunlun Energy and Yang Hua of China National Offshore Oil Corporation \u2014 appear to operate in the dark, and their purpose is not clear. PetroChina and CNOOC did not respond to ICIJ\u2019s repeated requests for comment.<\/p>\n<p>Other scandal-tainted Chinese who have used the BVI to do business include Huang Guangyu, <a href=\"http:\/\/www.huffingtonpost.com\/2010\/05\/18\/huang-guangyu-former-rich_n_579810.html\" target=\"_blank\" rel=\"noopener\">once China\u2019s richest man<\/a>. The ICIJ records show that he and his wife Du Juan set up a maze of at least 31 BVI companies between 2001 and 2008 as they built the largest consumer electronics retail chain in China.<\/p>\n<p>The husband, Huang, was sentenced to 14 years in prison in 2010 after Chinese courts convicted him of insider trading, bribery and stock price manipulation. Du Juan was convicted of related charges but was released from prison in 2010 after serving a brief time.<\/p>\n<p><span lang=\"EN\">While Huang is in prison and many of his assets are frozen, his business empire survives through his offshore network of companies. In 2011, one of his BVI firms, Eagle Vantage Assets Management, made a bid for a retired British aircraft carrier that Huang wanted to turn into a luxury shopping mall (the Brits in the end decided to scrap the ship).<\/span><\/p>\n<p><span lang=\"EN\">He&nbsp;<\/span>still owns more than 30 percent of Gome, his electronics retailer, via two companies in the BVI,&nbsp;Shining Crown Holdings and Shine Group.<\/p>\n<h4>Offshore\u2019s future<\/h4>\n<p>As concerns grow about the wealth of corporate oligarchs, government officials and their families, some Chinese have braved the government\u2019s anger by raising questions about corruption.<\/p>\n<p>A grassroots group, the New Citizens Movement, uses the Internet and small demonstrations to press for greater transparency. \u201cHow can you fight corruption if you don\u2019t even dare to disclose your personal assets?\u201d the group\u2019s founder, legal advocate and activist Xu Zhiyong, wrote last spring.<\/p>\n<p>The government\u2019s response has been swift. It has arrested Xu and detained more than 20 other members of the group, indicting some for \u201cdisturbing public order\u201d or \u201cillegal assembly,\u201d charges frequently used to silence dissidents.<\/p>\n<p>The government has also cracked down on foreign media that have focused attention on the gap between wealth and poverty in China. After <em>The New York Times<\/em> and Bloomberg News reported on the onshore assets of China\u2019s princelings, the government blocked their websites and delayed approving visas for their journalists.<\/p>\n<p>After years of inaction, the U.S., the U.K. and international organizations have begun pushing reforms that, they say, would reduce offshore abuses. China has been less aggressive in pressing for changes in the offshore system.<\/p>\n<p>Big loopholes in tax laws have allowed Chinese individuals to operate with relative freedom offshore. They weren\u2019t required to report their foreign holdings.<\/p>\n<p>\u201cChinese policy makers didn\u2019t envision individuals absconding with that much money,\u201d Lee, the Beijing-based corporate lawyer, said.<\/p>\n<p>Now mainland authorities are moving to get a handle on the flow of private wealth offshore. New rules that went into effect Jan. 1 require Chinese to report their overseas assets.<\/p>\n<p>How aggressively China joins global efforts to reshape the offshore system may have a big impact on the current push for reform. Just as China has become an increasingly important player in the global economy, it has also become more important as a supplier of clients to the market for offshore accounts and companies.<\/p>\n<p>A <a href=\"https:\/\/www.documentcloud.org\/documents\/841880-offshore2020-oil-report.html\" target=\"_blank\" rel=\"noopener\">2013 industry-sponsored poll<\/a> of 200-plus bankers and other offshore professionals found that \u201cChina-related demand\u201d is the key driver in the offshore market\u2019s growth. The chief of a BVI offshore services firm said in the survey: \u201cChina is the most important location for client origination for business in the next five years.\u201d<\/p>\n<\/div>\n<\/div>\n<\/div>\n<address class=\"byline contributors\">Contributors to this story: <a href=\"http:\/\/www.icij.org\/journalists\/margot-williams\" target=\"_blank\" rel=\"noopener\">Margot Williams<\/a> and <a href=\"http:\/\/www.icij.org\/journalists\/david-donald\" target=\"_blank\" rel=\"noopener\">David Donald<\/a><\/address>\n<\/div>\n\n<div class=\"wp-block-jetpack-subscriptions__supports-newline wp-block-jetpack-subscriptions\">\n\t\t<div>\n\t\t\t<div>\n\t\t\t\t<div>\n\t\t\t\t\t<p >\n\t\t\t\t\t\t<a href=\"https:\/\/berndpulch.org\/de\/?post_type=post&#038;p=24215\" style=\"font-size: 16px;padding: 15px 23px 15px 23px;margin: 0; margin-left: 10px;border-radius: 0px;border-width: 1px; background-color: #113AF5; color: #FFFFFF; text-decoration: none; white-space: nowrap; margin-left: 0\">Abonnieren<\/a>\n\t\t\t\t\t<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Become a Patron!True Information is the most valuable resource and we ask you to give back. Leaked Records Reveal Offshore Holdings of China\u2019s Elite @ Click here to sign up for our email newsletter Get email updates on Secrecy for Sale, ICIJ and other Center for Public Integrity projects. Illustration: Tim Meko By Marina Walker 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enth\u00fcllt: Chinas korrupter Ex-STASI-Chef Zhou Yongkang  r\u00e4umte hunderte Milliarden ab","author":"Bernd Pulch","date":"Februar 5, 2014","format":false,"excerpt":"Ein anonymer Insider enth\u00fcllte, wie dick Chinas Ex-Stasi-Chef wirklich abr\u00e4umte: \u201eDas ist der gr\u00f6\u00dfte Korruptionsfall mit der h\u00f6chsten Summe in der Geschichte der Kommunistischen Partei.\u201c Seit der Gr\u00fcndung der Volksrepublik habe es nichts Vergleichbares gegeben, so der Insider. Zhou Yongkang (72) war lange Jahre Chinas Stasi-Chef \u2013 davor hatte er\u2026","rel":"","context":"In &quot;BERND PULCH&quot;","block_context":{"text":"BERND PULCH","link":"https:\/\/berndpulch.org\/de\/category\/bernd-pulch-2\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/berndpulch.org\/wp-content\/uploads\/2014\/01\/china_zhouyongkang_gettyima_pt_8.jpg?fit=637%2C393&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/berndpulch.org\/wp-content\/uploads\/2014\/01\/china_zhouyongkang_gettyima_pt_8.jpg?fit=637%2C393&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/berndpulch.org\/wp-content\/uploads\/2014\/01\/china_zhouyongkang_gettyima_pt_8.jpg?fit=637%2C393&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":23284,"url":"https:\/\/berndpulch.org\/de\/2014\/02\/06\/top-secret-national-geospatial-intelligence-agency-sochi-2014-winter-olympics-talking-map\/","url_meta":{"origin":24215,"position":1},"title":"TOP-SECRET &#8211; National Geospatial-Intelligence Agency Sochi 2014 Winter Olympics Talking Map","author":"Bernd Pulch","date":"Februar 6, 2014","format":false,"excerpt":"he following is a \u201ctalking map\u201d created by the National Geospatial-Intelligence Agency (NGIA) in preparation for the 2014 Winter Olympics in Sochi, Russia.\u00a0 Once the PDF is downloaded, you can click on the names of locations on the map and a sound file will play with the proper pronunciation. Sochi\u2026","rel":"","context":"In &quot;BERND PULCH&quot;","block_context":{"text":"BERND PULCH","link":"https:\/\/berndpulch.org\/de\/category\/bernd-pulch-2\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/berndpulch.org\/wp-content\/uploads\/2012\/11\/putin_gun_1512248c.jpg?fit=460%2C288&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":23197,"url":"https:\/\/berndpulch.org\/de\/2014\/01\/30\/chinas-ex-stasi-chef-vor-gericht-todesstrafe-in-aussicht\/","url_meta":{"origin":24215,"position":2},"title":"Chinas Ex-STASI-Chef vor Gericht: Todesstrafe in Aussicht","author":"Bernd Pulch","date":"Januar 30, 2014","format":false,"excerpt":"Offiziell ist noch nichts, doch soviel ist sicher: Mittlerweile ist der F\u00fchrungskreis der Kommunistischen Partei Chinas (KPCh) auf verschiedenen Ebenen \u00fcber den geplanten Prozess gegen Chinas Ex-Staatssicherheitsdienst-Chef Zhou Yongkang informiert. Wie die Hongkonger \u201eSouth China Morning Post\u201c (SCMP) heute auf ihrer englischsprachigen Website berichtete, fanden partei-interne Briefings zum Fall Zhou\u2026","rel":"","context":"In &quot;BERND PULCH&quot;","block_context":{"text":"BERND PULCH","link":"https:\/\/berndpulch.org\/de\/category\/bernd-pulch-2\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/berndpulch.org\/wp-content\/uploads\/2014\/01\/china_zhouyongkang_gettyima_pt_8.jpg?fit=637%2C393&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/berndpulch.org\/wp-content\/uploads\/2014\/01\/china_zhouyongkang_gettyima_pt_8.jpg?fit=637%2C393&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/berndpulch.org\/wp-content\/uploads\/2014\/01\/china_zhouyongkang_gettyima_pt_8.jpg?fit=637%2C393&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":23286,"url":"https:\/\/berndpulch.org\/de\/2014\/02\/06\/unveiled-chinese-capabilities-for-computer-network-operations-and-cyber-espionage\/","url_meta":{"origin":24215,"position":3},"title":"Unveiled &#8211; Chinese Capabilities for Computer Network Operations and Cyber Espionage","author":"Bernd Pulch","date":"Februar 6, 2014","format":false,"excerpt":"\u00a0 Occupying the Information High Ground: Chinese Capabilities for Computer Network Operations and Cyber Espionage 137 pages March 7, 2012 The PLA\u2019s sustained modernization effort over the past two decades has driven remarkable transformation within the force and put the creation of modern command, control, communications, computers, intelligence, surveillance, and\u2026","rel":"","context":"In &quot;BERND PULCH&quot;","block_context":{"text":"BERND PULCH","link":"https:\/\/berndpulch.org\/de\/category\/bernd-pulch-2\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/publicintelligence.net\/wp-content\/uploads\/2012\/03\/USCC-ChinaCyberEspionage.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":24882,"url":"https:\/\/berndpulch.org\/de\/2014\/08\/19\/matthew-aid-changji-chinas-biggest-sigint-site\/","url_meta":{"origin":24215,"position":4},"title":"Matthew Aid &#8211; Changji: China\u2019s Biggest SIGINT Site","author":"Bernd Pulch","date":"August 19, 2014","format":false,"excerpt":"Become a Patron!True Information is the most valuable resource and we ask you to give back. I have spent the last two days going over the latest satellite imagery for a huge Chinese signals intelligence (SIGINT)\u00a0out in western China, which is located eight miles east of the nondescript city of\u2026","rel":"","context":"In &quot;BERND PULCH&quot;","block_context":{"text":"BERND PULCH","link":"https:\/\/berndpulch.org\/de\/category\/bernd-pulch-2\/"},"img":{"alt_text":"","src":"https:\/\/s-ssl.wordpress.com\/i\/spotify-badge.svg","width":350,"height":200},"classes":[]},{"id":24987,"url":"https:\/\/berndpulch.org\/de\/2014\/09\/01\/unveiled-chinas-new-spy-station-in-hong-kong\/","url_meta":{"origin":24215,"position":5},"title":"Unveiled &#8211; China&#8217;s New Spy Station in Hong Kong","author":"Bernd Pulch","date":"September 1, 2014","format":false,"excerpt":"Become a Patron!True Information is the most valuable resource and we ask you to give back. Ian Cameron writing for IHS Jane\u2019s reports\u00a0on the PLA\u2019s \u00a0latest SIGINT station on top of\u00a0Hong Kong\u2019s tallest mountain, the 957 m-high peak of Tai Mo Shan. It would appear the new installation was built\u2026","rel":"","context":"In &quot;BERND PULCH&quot;","block_context":{"text":"BERND PULCH","link":"https:\/\/berndpulch.org\/de\/category\/bernd-pulch-2\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/berndpulch.org\/wp-content\/uploads\/2016\/03\/pict47.jpg?fit=1200%2C669&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/berndpulch.org\/wp-content\/uploads\/2016\/03\/pict47.jpg?fit=1200%2C669&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/berndpulch.org\/wp-content\/uploads\/2016\/03\/pict47.jpg?fit=1200%2C669&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/berndpulch.org\/wp-content\/uploads\/2016\/03\/pict47.jpg?fit=1200%2C669&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/berndpulch.org\/wp-content\/uploads\/2016\/03\/pict47.jpg?fit=1200%2C669&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/berndpulch.org\/wp-content\/uploads\/2014\/01\/china_zhouyongkang_gettyima_pt_8.jpg?fit=637%2C393&ssl=1","_links":{"self":[{"href":"https:\/\/berndpulch.org\/de\/wp-json\/wp\/v2\/posts\/24215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/berndpulch.org\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/berndpulch.org\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/berndpulch.org\/de\/wp-json\/wp\/v2\/users\/20155506"}],"replies":[{"embeddable":true,"href":"https:\/\/berndpulch.org\/de\/wp-json\/wp\/v2\/comments?post=24215"}],"version-history":[{"count":3,"href":"https:\/\/berndpulch.org\/de\/wp-json\/wp\/v2\/posts\/24215\/revisions"}],"predecessor-version":[{"id":685735,"href":"https:\/\/berndpulch.org\/de\/wp-json\/wp\/v2\/posts\/24215\/revisions\/685735"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/berndpulch.org\/de\/wp-json\/wp\/v2\/media\/23198"}],"wp:attachment":[{"href":"https:\/\/berndpulch.org\/de\/wp-json\/wp\/v2\/media?parent=24215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/berndpulch.org\/de\/wp-json\/wp\/v2\/categories?post=24215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/berndpulch.org\/de\/wp-json\/wp\/v2\/tags?post=24215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}