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Home / World

The Chinese trail in the Panama Papers

Herald online
7 Apr, 2016 01:25 AM2 mins to read

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A man walks by a propaganda poster of China's Communist Party in Beijing. Photo / AP

A man walks by a propaganda poster of China's Communist Party in Beijing. Photo / AP

The Guardian and BBC have revealed that the families of members of China's Communist Party elite used offshore companies. The relatives had companies that were clients of the offshore law firm Mossack Fonseca. The Guardian says there is nothing in the documents to suggest that the politicians in question had any beneficial interest in the companies connected to their family members.

Chinese President Xi Jinping
His brother-in-law Deng Jiagui has taken advantage of offshore companies, being a director and shareholder of two, the BBC says.

Jia Qinglin
The granddaughter of the powerful Chinese leader became the sole shareholder in two British Virgin Islands companies, the Guardian says. Jasmine Li, then a teenager, had just begun studying at Stanford University in the US when the companies were registered in her name in December 2010. Her grandfather Jia was at that time the fourth-ranked politician in China.

Zhang Gaoli
Lee Shing Put, the son-in-law of Zhang Gaoli, another member of China's top political body the politburo standing committee, has used three offshore accounts. Zhang is China's seventh-ranked leader.

Li Peng, former Premier
Li Xiaolin, the daughter of Li Peng, who oversaw the crackdown against Tiananmen Square protesters, was a director and shareholder of an offshore company.

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Zeng Qinghong and Tian Jiyun
The brother of former vice-president Zeng Qinghong and the son of former politburo member Tian Jiyun are directors of a single offshore company. The Guardian says they have previously been linked in a court case that highlighted how some Chinese "princelings" have used political connections for financial gain.

Hu Yaobang, former head of the party
Hu's son Hu Dehua was a shareholder, director and owner of an offshore company, the BBC reports.

Liu Yunshan
The BBC says the daughter-in-law of China's fifth ranked leader was the director and shareholder of an offshore company.

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