Lower-ranking officials tended to escape to countries bordering China, the report said. The independently administered Chinese territory of Hong Kong was also a popular transit point. The report, stamped “internal materials, store carefully” and compiled in June 2008, was published on the website of the central bank’s anti-money laundering bureau this week. The bureau took the report down after it generated a public outcry. In a refrain that is regularly repeated by senior Chinese leaders, the report warned that rampant corruption poses a threat to Communist party rule.
It also provided a fascinating insight into the mechanisms behind that corruption by identifying eight ways that officials funneled their illicit funds offshore. Overseas casinos were commonly used to launder money out of the country in collusion with gaming operators, the report said. Many officials carried large amounts of cash across the border or disguised money transfers to relatives, mistresses and other confidantes abroad, while more sophisticated cadres relied on fake trade documents and overseas investments. Others used credit cards to buy large amounts of luxury goods overseas and then used illicit funds to pay back the fees in China.
Chinese capital controls are supposed to limit individuals to annual remittances of just $50,000 in or out of the country. The sectors that were most at risk of having corrupt officials abscond with stolen funds were “sensitive industries” like finance, state-owned monopolies, construction, transport and tax, investment and trade departments of the government, the report said. Anecdotal evidence suggests the number of officials absconding abroad with stolen assets is increasing, in part because of a senior leadership transition scheduled for late next year. Many officials fear they will be losers in the power struggles that are expected to accompany the transition.
Anti-China feelings rising in Vietnam
Yomiuri Shimbun, 16 June 2011
The Vietnamese Navy conducted live-fire exercises Monday in the South China Sea at a time when anti-China sentiment is rising here over a maritime dispute. Rare anti-China protests have been staged for two weeks in a row. The dispute erupted after a Chinese surveillance boat severed the cables of a Vietnamese marine resources-exploration vessel in waters near Vietnam on May 26. According to Vietnamese authorities, a Vietnamese fishing boat was subsequently fired on by a Chinese surveillance vessel. This revelation whipped up intense anti-China sentiments among many Vietnamese people.
In Hanoi and Ho Chi Minh City, Vietnam's biggest city, hundreds of protesters vented their anger
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Subject: The Vietnamese Navy conducted live-fire exercises Monday in the South China Sea at a time when anti-China sentimen 
Thu Jun 30, 2011 7:18 pm