Xi Jinping using relatives to conceal $707.2mn wealth, says report
Ctiticing the Chinese governemtn under President Xi Jinping is fraught with risks
Chinese President Xi Jinping and other senior Chinese leaders have engaged in corruption and concealed vast amounts of wealth, using their relatives to obscure their activities, according to a US government report.
The report by the Congressional Research Service (CRS), a public policy research institute of the United States Congressalso highlighted the challenges in obtaining public information regarding the wealth and corruption of high-ranking Communist Party officials.
According to the report, Xi had accrued a staggering $376 million in company investments by 2012.
This is in addition to an indirect 18 per cent stake in a rare-earth mineral company valued over $311 million as well as holdings totaling $20.2 million in a technology company.
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The report underscored the lack of transparency within the Communist Party of China (CPC), as officials are not mandated to disclose their assets publicly.
Control of media is also mentioned in the report, saying that Chinese authorities want to ensure that any reporting on corruption is swiftly suppressed.
Notably, American intelligence agencies are also preparing a report that's likely to uncover major corruption and undisclosed riches among Chinese Communist Party figures, including Xi Jinping.
CRS report is prepared for members of the US Congress ahead of this US intel report.
The CRS report indicated that there was an expulsion of 266 members of the CPC Central Committee, including prominent figures like former Defence Minister Li Shangfu and former Foreign Minister Qin Gang.
Four types of corruption
The report identified four types of corruption prevalent in China, with "access money" being the most prominent.
This form of corruption involves bribes from capitalists to powerful party officials in exchange for various privileges, as per reports. The other forms of corruption includespeed money, grand theft and petty theft.
Several high-profile corruption cases involving Chinese leaders and their relatives have been uncovered by investigations, including those of President Xi's family members and former Premier Wen Jiabao's relatives.
Most of the Xi's $707.2 million wealth were owned by his eldest sister Qi Qiaoqiao and her husband Deng Jiagui and the couple's daughter Zhang Yannan.
(With inputs from agencies)