China Says 150 Economic Fugitives Flee to US

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By Douglas A. McIntyre Published
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China says that a portion of the fugitives from the country lives in America. China Daily calls these very special kind of people “economic fugitives,” whatever that may be. Apparently, they are targets of recent efforts to root out corruption in China. Perhaps they came to the United States because the government of the People’s Republic will have trouble getting them back. Among the reason is the tension between the two countries stemming from China’s attack on U.S. technology and auto companies to its harboring some of the world’s most skilled hackers, many of whom have targeted the American government and some of the U.S.’s largest companies.

China Daily reports:

More than 150 economic fugitives from China, most of whom are corrupt officials or face allegations of corruption, remain at large in the United States, according to an official from the Ministry of Public Security.
“The US has become the top destination for Chinese fugitives fleeing the law,” said Liao Jinrong, director general of the International Cooperation Bureau under the Ministry of Public Security.
Figures from the ministry show that during the past decade, Chinese police have brought only two fugitives home to stand trial. One of those was the high-profile fugitive Yu Zhendong, former head of the Bank of China branch in Kaiping, Guangdong province.
Yu was found guilty of corruption and embezzlement of funds of up to $482 million, and was repatriated in 2005 after spending four years on the run.
“We face practical difficulties in getting fugitives who fled to the US back to face trial due to the lack of an extradition treaty and the complex and lengthy legal procedures, ” Liao said.
He said an extradition treaty is essential between the countries but little progress has been made with the US.
Moreover, experts said, US judicial authorities misunderstand the Chinese judicial system and procedures.
“They always think Chinese judicial organs violate suspects’ human rights,” said Wang Gang, a senior official from the America and Oceanic affairs division of the ministry’s International Cooperation Bureau.

It is hard to imagine why the U.S. would help China with its problem. However, its representatives want to meet with the Department of Homeland Security. The Department of Justice might be more appropriate.

China has had trouble bringing corrupt officials to justice because of the pockets of power at the top levels of its government. China president Xi Jinping said he has had trouble pushing his anti-corruption plan as hard as he would like. Its net has captured former top security official Zhou Yongkang. Recently, the South China Morning Post quoted Xi Jinping:

”[I] had left life and death, as well as my personal reputation, out of consideration in the combat against corruption,” Xi said, according to Changbaishan city’s party chief, Li Wei.

Xi Jinping will face a similar stalemate in America. China does not have any leverage, and the U.S. government, at odds with the People’s Republic on so many issues, has not reason to cooperate

 

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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