CHINA INSISTS PARTY ELITES SHED OVERSEAS ASSETS, – HAVING SEEN WESTERN SANCTIONS ON RUSSIA

On 19 May, the Wall Street Journal reported that an internal Communist Party directive bars senior officials from owning property abroad or stakes in overseas entities, whether directly or through spouses and children.  It is said that the Party will block promotions for senior cadres whose spouses or children hold significant assets abroad, as China seeks to insulate its top officials from the types of sanctions now being directed at Russia.

https://www.wsj.com/articles/china-insists-party-elites-shed-overseas-assets-eyeing-western-sanctions-on-russia-11652956787

 

  

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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