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China’s unyielding fight against corruption

2025-01-05 21:20   Xinhua

  As corruption tactics evolve, China's anti-corruption efforts face new challenges. Corruption modus operandi has shifted from traditional forms, such as accepting cash and real estate bribes, to more complex schemes involving the acquisition of shares and paid services in exchange for illegal favors.

  Some corrupt practices are increasingly being disguised as legitimate activities, with examples including private lending and speculative trading. Others involve the receipt of assets through shadow companies or third-party holdings.

  Additionally, some officials may provide benefits while in office but only accept bribes after retirement, creating a delay between the corrupt act and the reward.

  In one case, Fan Yifei, former vice governor of the People's Bank of China, used his brother's investment company to secretly amass wealth. Rather than offering cash, bribe-givers provided fake investment projects, with his brother's company profiting from fraudulent agreements that required no actual money.

  “A businessman might offer me money directly, and I'd refuse. But if he gives it in the form of stocks or other assets, not directly to me but to my family, that's a whole different matter,“ Fan confessed, highlighting why such corrupt practices are much harder to trace.

  In response, anti-corruption agencies have strengthened collaboration with departments of public security, taxation and auditing, leveraging advanced technologies such as big data and cloud computing to uncover deeply entrenched corruption.

  China has also stepped up efforts to punish those who offer bribes. In the first three quarters of 2024, anti-graft watchdogs investigated 19,000 individuals for offering bribes and referred 2,972 for prosecution.

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