China to Recover Assets Taken Overseas by Corrupt Officials

© REUTERS / Kim Kyung-HoonA Chinese national flag flies at the headquarters of the People's Bank of China, the country's central bank, in Beijing, China, January 19, 2016
A Chinese national flag flies at the headquarters of the People's Bank of China, the country's central bank, in Beijing, China, January 19, 2016 - Sputnik International
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Beijing will start retrieving illegal assets of the graft suspects who have fled China, in the framework of an anti-corruption campaign, local media reported Wednesday.

Yuan banknotes and US dollars are seen on a table in Yichang, central China's Hubei province on August 14, 2015 - Sputnik International
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BEIJING (Sputnik) — The China Daily newspaper reported citing a source familiar with the situation that the Chinese Ministry of Public Security proposed a new initiative aimed at recovery of illegal assets from abroad.

According to the news outlet, the public security authorities are expected to cooperate with People's Bank of China's departments responsible for the fight against money laundering and with other countries in tracking suspected corruptionists and recovering the assets.

According to the Ministry of Public Security, China’s anti-corruption campaign known as Fox Hunt has seen the repatriation of 409 fugitive officials from abroad since its launch in April.

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