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More global anti-graft cooperation

China Daily | Updated: 2014-11-18 07:57

International treaties offer an additional choice for China to hunt corrupt officials that flee overseas. For example, China hasn't signed a bilateral extradition treaty with Canada but both are members of the United Nations Convention Against Corruption, so it can resort to specific articles to net corruption suspects. The G20 cooperation on anti-graft marks further progress in this direction.

Huang Feng, professor of international criminal law at Beijing Normal University, Beijing News, Nov 17

Corruption is an economic problem, because it increases commercial costs, and a political problem because it damages public confidence in government. The World Bank estimates that the cost of global bribery alone is as high as $1 trillion. To promote the prosperity of the world economy and lower the risks, it is necessary to build an environment that allows only legal business activities.

Zhang Jun, director of the Department of International Economy, China's Ministry of Foreign Affairs,, Nov 13

If the G20 Summit makes concrete progress on anti-graft cooperation, a global net against corruption will be possible, enabling China to seek worldwide support for its efforts to build clean government. By making it merely an illusion that corrupt officials can shelter overseas, the anti-graft cooperation will also give Chinese people confidence in reform and propel prosperity., Nov 14

The anti-graft agreements reached at the G20 meeting will promote transparency of enterprise ownership, thus making it more difficult for corrupt officials to launder money through "shell companies". But to effectively fight corruption, China needs further cooperation with global powers such as the United States to lay the foundation for a global anti-graft mechanism.

Bai Ming, a researcher at Chinese Academy of International Trade and Economic Cooperation, Beijing Business Today, Nov 17

Anti-corruption has been an important topic at past G20 summits, with cooperation strengthening each time. It is urgent that a mechanism be established as the fruit of this cooperation and a common legal enforcement net is set up that will hunt corrupt officials wherever they hide. Also, more support should be offered to developing economies so that corruption won't prevent their development., Nov 15

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