Increased cooperation is key

China and Canada will sign an agreement concerning sharing of the illegal assets that Chinese economic fugitives have transferred to Canada, according to the Ministry of Public Security.

"The two sides are engaged in ongoing negotiations and the agreement is likely to be reached in the coming months," according to one senior ministry official who declined to be named.

"After the bilateral agreement is concluded, it will facilitate the return of the funds the fugitives sent abroad illegally, and resolve the subsequent economic losses, which will help to prevent fugitives' fleeing the law," he said.