Officials hail forfeiture of assets valued at $31 million

The forfeiture of assets worth $31 million from a Chinese-born economic crime fugitive in New Zealand is a primary achievement in cooperation between police in the two countries, Chinese officials said on Wednesday.

Beijing will make further efforts to bring the suspect back to China, the officials added.

The New Zealand High Court had approved the end of a money laundering investigation into Yan Yongming, a former Chinese pharmaceutical executive, and ordered assets totaling NZ$43 million ($31 million) to be forfeited, New Zealand Police said in a statement on Tuesday.