China says it is in talks with U.S. over businessman who fled

BEIJING -- China's top anti-corruption agency said Friday it is in talks with the United States over a highly connected businessman who fled China, possibly bearing politically sensitive information.

See Full Article

The statement by an agency spokesman at a news conference is the first official acknowledgment of China's interest in Ling Wancheng, whose brother was a top aide to former Chinese President Hu Jintao before being arrested on corruption charges.

Ling is believed to hold sensitive information about China's leadership and could deliver an intelligence windfall should he defect.

The New York Times reported last year that the Obama administration has rebuffed Chinese requests for Ling's repatriation and has warned China about covert agents seeking his whereabouts on U.S. soil.

Liu Jianchao, the official at the Chinese Communist Party's Central Commission for Discipline Inspection responsible for repatriating corruption suspects, told reporters Friday that China was "in dialogue" with the U.S. but did not give details or say whether Ling might be handed over.

The brother, Ling Jihua, was the right-hand man and close ally of the former president and has not been tried. He served until 2012 as head of the ruling party's general office, a position comparable in U.S. politics to the president's chief of staff.

Ling fell out of political favour following a lurid scandal involving his alleged coverup of his son's death in a speeding Ferrari.

Some political observers say President Xi Jinping has used his anti-graft drive, now in its fourth year, as a tool to clear out political rivals within the party and consolidate power. The campaign shows no sign of easing.

The party hopes the campaign will help restore its reputation and rebuild trust among the Chinese public, while beefing up internal regulations to stem further corruption.

Discipline officials said Friday that the investigations have been unbiased and more than 330,000 party members have been punished.

Deputy Secretary Wu Yuliang said the campaign has won approval from the public and will continue with "undiminished force, unchanged rhythm, unmitigated scale."



Advertisements

Latest Economic News

  • Shopify sees big uptick in U.S. job applicants after Trump's election, CEO says

    Economic CTV News
    TORONTO -- Shopify's CEO says it's a great time for Canadian startups to attract talent as the U.S. government is creating an uninviting environment for a lot of people. Tobias Lutke says his company is receiving many more applications from U.S. Source
  • SEC fraud charges filed against Penn West, three former finance execs

    Economic CBC News
    Two days after changing its name and vowing to put its scandal-tainted past behind it, the former Penn West Petroleum is being hit with charges by the U.S. Securities and Exchange Commission. The SEC charges allege the Calgary-based oil and gas firm and three of its former finance executives participated in a "multi-year accounting fraud" where hundreds of millions of dollars were mislabelled to improve the appearance of its operating metrics. Source
  • Toronto stock index up moderately on broad sector gains, loonie strengthens

    Economic CTV News
    TORONTO - Canada's main stock index is showing moderate gains from a broad range of sectors. The Toronto Stock Exchange's S&P/TSX composite index was up 58.20 points to 15,339.42, after 90 minutes of trading. Source
  • Loonie above 76 cents US as Poloz hints rate hike may be coming

    Economic CBC News
    The Canadian dollar gained three-quarters of a cent and hit its highest level in four months on Wednesday after Canada's central bank head hinted in an interview that rate hikes could be coming sooner rather than later. Source
  • Boeing seeks delay in duty ruling on petition against Bombardier CSeries

    Economic CTV News
    MONTREAL - Bombardier may have to wait an extra two months to find out if its CSeries commercial jets will be hit by punishing U.S. duties. Boeing has requested that the U.S. Commerce Department delay its preliminary determination on its petition until Sept. Source
  • Poloz: low interest rates put in place after oil shock have 'done their job'

    Economic CTV News
    OTTAWA -- With the Bank of Canada nearing its next policy decision, governor Stephen Poloz is reiterating his message that his 2015 interest-rate cuts appear to have done their job. Poloz said in an interview broadcast on business news channel CNBC that the Canadian economy enjoyed "surprisingly" strong growth in the first three months of 2017 and he expected the pace to stay above potential. Source
  • Rate hike expectations, C$ rise as Poloz reiterates cuts have done their job

    Economic CTV News
    OTTAWA -- With the Bank of Canada nearing its next policy decision, expectations of an interest-rate hike spread Wednesday after governor Stephen Poloz reiterated that his 2015 cuts appeared to have done their job. Poloz made the comments in an interview broadcast on business news channel CNBC. Source
  • Low interest rates have 'done their job,' says Bank of Canada's Poloz

    Economic CBC News
    ?The governor of the Bank of Canada says it looks like low interest rates put in place in 2015 have "done their job" but he stopped short of predicting the central bank's next move. Stephen Poloz said in an interview broadcast on business news channel CNBC that the Canadian economy has been recovering from the global financial crisis that erupted in 2008 and the sudden decline in oil prices that began in late 2014. Source
  • Another financial crisis 'in our lifetimes' unlikely, Yellen says

    Economic CBC News
    Federal Reserve Chair Janet Yellen said Tuesday that she believes banking regulators have made enough improvements to the financial system that the world will not experience another financial crisis "in our lifetimes." Addressing an audience at the British Academy in London on Tuesday, Yellen said the banking reforms put in place in recent years have made the financial system much safer. Source
  • Empire posts lower Q4 adjusted earnings amid turnaround of Sobeys grocery unit

    Economic CTV News
    STELLARTON, N.S. -- The parent of Sobeys is reporting a decline in adjusted earnings for the first full quarter since it installed a new chief executive with a mandate to revive the national grocery business. Source