China’s central bank is looking into allegations by a state broadcaster that Bank of China, the country’s fourth largest lender, has been laundering money offshore for clients, the New York Times reported Friday.… Continue Reading
Authorities are clamping down on corrupt police officers offering protection to sex workers in southern China’s “sin city” of Dongguan.
The crackdown, triggered by an investigative report aired on China Central Television (CCTV), “may have been an orchestrated effort involving China’s central government, state media and Guangdong Communist Party chief Hu Chunhua, and could be a preview to a second round of anti-graft sweeps across the country.”… Continue Reading
A police investigation in China has found that drugmaker GlaxoSmithKline’s alleged bribery of doctors ‘was coordinated by the British company and was not the work of individual employees,’ according to a report Tuesday by Reuters.… Continue Reading
State mouthpiece People’s Daily recently announced a marked decline in government officials’ wanderlust following the installation of GPS devices in their vehicles.
On average, officials in Guangzhou (Guangdong Province) drove about 27 percent less once they knew they were being tracked, resulting in potential savings of $805 per vehicle per month, the newspaper said.… Continue Reading