China plans crackdown on capital flight

CHINA - China plans a concerted effort to stop its officials spiriting state funds abroad through an expanding repertoire of illegal activity, officials have said.

Zhu Rongji, the premier, was furious after learning of the growing levels of capital flight from China via illegal transfers, money laundering and underground banks, the sources added.

Like other corruption cases in China, most of the criminals behind various forms of capital flight have turned out to be government officials or seni