In the wake of the “Panama Papers” data leak, one country that will not be investigating the widespread use of offshore companies by its political elite is China.
Days after the disclosure shed light on the suspected tax vehicles set up by a Panamanian law firm for global leaders and their associates, including the relatives of at least eight senior Chinese politicians, government officials and state media remained largely silent about the revelations.
China’s foreign affairs ministry declined to comment on what it called “groundless allegations”, while the Global Times, a tabloid offshoot of the official newspaper the People’s Daily, railed against “disinformation” that it said tended to target “leaders of non-western countries” such as Russian president Vladimir Putin. Mr Putin’s friends, including a Russian cellist, featured prominently in the data uncovered by the International Consortium of Investigative Journalists.