【Japan Himalaya League】 Author: Haixing  Translator: SPS

According to a report by the Liberty Times on May 20, sources familiar with the matter have revealed that Xi Jinping has ordered the spouses and children of Communist Party officials at the ministerial level and above to be banned from directly or indirectly holding overseas assets.

Photo from The Liberty Times

It was reported that Xi Jinping issued an order as early as March this year, prohibiting the spouses and children of CCP officials above the ministerial level from directly or indirectly holding overseas real estate or shares in entities registered overseas. In addition, Xi Jinping also stipulated that senior officials and their immediate family members should not open accounts with overseas financial institutions unless they have legitimate reasons, such as studying or working.

The ban has already led some family members of senior officials to sell shares in overseas companies, the report noted. This means Xi Jinping is tightening his grip on the CCP’s domestic political elite ahead of the 20th CCP National Congress.

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Edited & Posted by: Ranting