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Hundreds of "naked officials" penalized in Guangdong - China News - SINA English
More than 250 officials whose spouses and children have emigrated overseas have been penalized with demotions or "position adjustments" in south China's Guangdong Province as part of a campaign to stamp out the practice.
According to an article published on Thursday on the website of the Organization Department of the Guangdong Provincial Committee of the Communist Party of China, the province has completed applying the policy to almost all such personnel, known in China as "luoguan" in Chinese, or "naked officials" in English.
The number of luoguan identified in Guangdong includes nine formerly in senior positions.
Dongguan City has demoted 127 officials and 128 in the city of Jiangmen have been assigned to other posts.
Analysis & Opinion | Reuters
Western banks’ next regulatory headache could be made in China. Most of the recent scrutiny of financial institutions’ business practices has come from the developed world – particularly the United States. But as Chinese citizens become more aware of the offshore wealth held by the country’s elites, banks are increasingly at risk of a regulatory backlash.
Despite China’s supposedly strict capital controls, large amounts of cash have leaked out of the country in recent years. Macau’s booming casinos, the rising price of prime real estate from Hong Kong to San Francisco, and the growing number of Chinese students at top Western schools and universities show the well-off are able to move large amounts of cash across the border. Members of the Chinese elite have also become enthusiastic users of offshore tax havens like the British Virgin Islands, as highlighted by a new report by the International Consortium of Investigative Journalists.
More than 250 officials whose spouses and children have emigrated overseas have been penalized with demotions or "position adjustments" in south China's Guangdong Province as part of a campaign to stamp out the practice.
According to an article published on Thursday on the website of the Organization Department of the Guangdong Provincial Committee of the Communist Party of China, the province has completed applying the policy to almost all such personnel, known in China as "luoguan" in Chinese, or "naked officials" in English.
The number of luoguan identified in Guangdong includes nine formerly in senior positions.
Dongguan City has demoted 127 officials and 128 in the city of Jiangmen have been assigned to other posts.
Analysis & Opinion | Reuters
Western banks’ next regulatory headache could be made in China. Most of the recent scrutiny of financial institutions’ business practices has come from the developed world – particularly the United States. But as Chinese citizens become more aware of the offshore wealth held by the country’s elites, banks are increasingly at risk of a regulatory backlash.
Despite China’s supposedly strict capital controls, large amounts of cash have leaked out of the country in recent years. Macau’s booming casinos, the rising price of prime real estate from Hong Kong to San Francisco, and the growing number of Chinese students at top Western schools and universities show the well-off are able to move large amounts of cash across the border. Members of the Chinese elite have also become enthusiastic users of offshore tax havens like the British Virgin Islands, as highlighted by a new report by the International Consortium of Investigative Journalists.
