Offshore assets

A steamed bun leaking its filling. (Badiucao for CDT)

A two-year investigation into offshore bank accounts by the International Consortium of Investigative Journalists (ICIJ) has revealed that more than 21,000 people in China and Hong Kong, including several family members of China’s top leadership, are utilizing offshore companies. Among those implicated in ICIJ’s findings are the brother-in-law of President Xi Jinping, the son and son-in-law of former Premier Wen Jiabao, daughter of former Premier Li Peng, and son-in-law of former paramount leader Deng Xiaoping, all of whom served as directors of offshore companies. ICIJ also created a public database listing more than 37,000 names of offshore clients with ties to companies and trust in 10 tax havens.

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