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Panama papers: China leaders' relatives named in leaks Panama papers: China leaders' relatives named in leaks
(35 minutes later)
Close relatives of seven current or former Chinese leaders have been found to have links to offshore firms.Close relatives of seven current or former Chinese leaders have been found to have links to offshore firms.
Documents leaked from Panama name family members of the Chinese President, Xi Jinping, and two other members of China's elite Standing Committee, Zhang Gaoli and Liu Yunshan.Documents leaked from Panama name family members of the Chinese President, Xi Jinping, and two other members of China's elite Standing Committee, Zhang Gaoli and Liu Yunshan.
Relatives of the three men are listed as directors or shareholders in firms located in known tax havens.Relatives of the three men are listed as directors or shareholders in firms located in known tax havens.
The Chinese government has not responded to requests for comment.The Chinese government has not responded to requests for comment.
The names appeared in a mass leak of files from Panamian law firm Mossack Fonseca. The names appeared in a mass leak of files from Panamanian law firm Mossack Fonseca.
Chinese state media are blocking reports of the families' offshore dealings, and the news is being censored on Chinese social media outlets.Chinese state media are blocking reports of the families' offshore dealings, and the news is being censored on Chinese social media outlets.
It is not illegal for Chinese citizens to set up offshore companies. However, China's Communist officials are discouraged from profiting from their ruling positions and their family members are not supposed to profit from their ties, according to the party's constitution.It is not illegal for Chinese citizens to set up offshore companies. However, China's Communist officials are discouraged from profiting from their ruling positions and their family members are not supposed to profit from their ties, according to the party's constitution.
Panama Papers - tax havens of the rich and powerful exposedPanama Papers - tax havens of the rich and powerful exposed
More than 300,000 party officials were punished last year under an ongoing anti-corruption campaign, orchestrated by President Xi.More than 300,000 party officials were punished last year under an ongoing anti-corruption campaign, orchestrated by President Xi.
The BBC's East Asia Editor, Celia Hatton, says the news that he and two other top leaders have close relatives with ties to offshore companies comes as an embarrassment to the Chinese leadership.The BBC's East Asia Editor, Celia Hatton, says the news that he and two other top leaders have close relatives with ties to offshore companies comes as an embarrassment to the Chinese leadership.
All three men have in-laws who are listed as directors or shareholders in companies located in known tax havens, including the British Virgin Islands.All three men have in-laws who are listed as directors or shareholders in companies located in known tax havens, including the British Virgin Islands.
It is widely known that many of China's elite families have succeeded in the business world and their wealth is well documented.It is widely known that many of China's elite families have succeeded in the business world and their wealth is well documented.
However, the leaked files from Mossack Fonseca divulge how much of that wealth is managed overseas, in opaque corporate structures that until now remained hidden from public view.However, the leaked files from Mossack Fonseca divulge how much of that wealth is managed overseas, in opaque corporate structures that until now remained hidden from public view.