China Condemns Recent Reports On The Wealth Of Their Elite

China Condemns Report On Elite's "Hidden" Wealth, Censors Discussion -- Reuters

The Chinese government condemned on Wednesday a report on the wealth of the country's elite being hidden in overseas tax havens as illogical and having ulterior motives, as the government blocked websites and censored mention of the story online.

The report, the result of an investigation by the International Consortium of Investigative Journalists, was published in newspapers, including Britain's Guardian and Spain's El Pais.

It said that the relatives of top Chinese leaders, including President Xi Jinping and the former premier, Wen Jiabao, were among members of China's elite making use of offshore havens like the British Virgin Islands.

Reuters was unable to independently verify the contents of the report.

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More News On China's Response To Recent Reports That Their Elite Are Hiding Their Wealth In Tax Havens

China condemns report on elite’s ‘hidden’ wealth -- Euronews
Guardian blocked in China after story about leadership's offshore wealth -- The Guardian
Guardian website blocked in China after it ran a story on the wealth of its rulers -- The Independent
Newspaper Websites Blocked In China After Reports About Chinese Leaders' Wealth -- Huffington Post
Authorities block online access to ICIJ's exposé of Chinese elite's offshore holdings -- The Center of Public Integrity
Chinese media speaks no evil over offshore leaks -- Deutsche Welle

My Comment: Regular readers of this blog know that I am a China watcher as well as being a regular visitor to China since the mid-1980s. I have many friends and contacts in China .... and it would not surprise me if some of the people that I know are on the list that the International Consortium of Investigative Journalists have compiled. As it was explained to me by my friends in China almost two decades ago .... China is ruled by about 800 families .... they control all of the government institutions, companies, banks, trading companies, investment groups, and .... well you get the idea. What surprises me is that they have only stashed away $4 trillion .... I thought the number was much higher.