Chasing Foxes: What the Chinese Anti-Corruption Hunt Means for Australian Businesses
President Xi Jinping's ongoing crusade against government corruption led to the launch of “Operation Fox Hunt” earlier this year. Aimed at identifying and repatriating Chinese officials, who have been lining their pockets and skipping the country since the 1980s, the program targets trillions of dollars’ worth of illicit funds that have been moved out of country. Special police forces have been dispatched by the Chinese government to more than 40 countries with a mandate to bring home fugitives from such places as Cambodia, Nigeria, Uganda, Fiji and Australia.
Traditionally, efforts in bringing back absconders have been met with challenges due to the lack of existing extradition treaties and China’s use of the death penalty in some corruption cases. To overcome these barriers, the Chinese government has been working closely with countries like Australia to step-up efforts and build on the mutual understanding each side has for anti-corruption policies. These efforts will undoubtedly have direct implications for Australian businesses.