China suspends G-20 anti-corruption task force
Move is a setback to global efforts to crack down on shell companies used to conceal assets, sources add
Hong Kong
CHINA suspended an international anti-corruption task force earlier this year after taking over the G-20 presidency, according to six individuals in the group, who called it a setback to global efforts to crack down on shell companies used to conceal assets.
The so-called "Business 20" Anti-Corruption Taskforce, comprising businesses and civil society groups, had been drawing up G-20 policies for increasing transparency of offshore financial structures, among other work, but the body was scrapped in late January because Chinese companies declined to participate, according to the sources.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons