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	<title>Beijing Cream &#187; Banking</title>
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	<itunes:summary>A Dollop of China</itunes:summary>
	<itunes:author>Beijing Cream</itunes:author>
	<itunes:explicit>yes</itunes:explicit>
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		<title>Five Facts from ICIJ Report on Offshore Corruption in China</title>
		<link>http://beijingcream.com/2014/01/offshore-corruption-ici/</link>
		<comments>http://beijingcream.com/2014/01/offshore-corruption-ici/#comments</comments>
		<pubDate>Wed, 22 Jan 2014 09:05:48 +0000</pubDate>
		<dc:creator><![CDATA[Patrick Lozada]]></dc:creator>
				<category><![CDATA[By Patrick Lozada]]></category>
		<category><![CDATA[General]]></category>
		<category><![CDATA[Banking]]></category>
		<category><![CDATA[Corruption]]></category>
		<category><![CDATA[ICIJ]]></category>

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		<description><![CDATA[1. Between $1 trillion and $4 trillion in untraced assets have left the country since 2000.

2. It's kind of our fault.]]></description>
				<content:encoded><![CDATA[<div id="attachment_21716" style="width: 540px" class="wp-caption aligncenter"><a href="http://www.icij.org/offshore/leaked-records-reveal-offshore-holdings-chinas-elite#people/liu-chunhang"><img class="size-large wp-image-21716 " alt="From ICIJ" src="http://beijingcream.com/wp-content/uploads/2014/01/republicofoffshore_homepage_withtext-530x294.jpg" width="530" height="294" /></a><p class="wp-caption-text">Illustration by Tim Meko</p></div>
<p>1. Between <strong>$1 trillion and $4 trillion</strong> in untraced assets have left the country since 2000.</p>
<p>2. <strong>It&#8217;s kind of our fault.</strong> <span id="more-21740"></span>Pricewaterhouse Coopers, UBS, and Credit Suisse are some of the key agents in this transaction. Foreign investors also &#8220;imposed&#8221; this because of their &#8221; general discomfort with Chinese rules and regulations.&#8221;</p>
<p>3. Several prominent Chinese leaders are actually <strong style="font-size: 13px;">2 dimensional cartoon people</strong>. Either that or in their exhaustive individual reporting on offshore assets of China&#8217;s princelings, they used artistic representations to avoid using photos that belong to others.</p>
<p>4. 40%<span style="font-size: 13px;"> of offshore trading comes from China and other Asian nations.</span></p>
<p>5. ICIJ sorted through a cache of <strong>2.5 million leaked files</strong> and got help from more than <strong>50 reporting partners</strong> throughout the world in releasing this info.</p>
<a href="http://www.icij.org/offshore/leaked-records-reveal-offshore-holdings-chinas-elite#people/liu-chunhang"><img class="alignnone" alt="Liu Chunhang" src="http://beijingcream.com/wp-content/uploads/2014/01/Cartoon-People.png" width="254" height="472" /></a>
<hr />
<p>Read the full report</p>
<p><a href="http://www.icij.org/offshore/leaked-records-reveal-offshore-holdings-chinas-elite#people/liu-chunhang"><em>English version</em></a></p>
<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"><em>Chinese version</em></a></p>
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