Сhinese elites given directive on foreign assets

Beijing has reportedly told Communist Party elites to shed overseas holdings and avoid vulnerability to Russia-like sanctions The Chinese Communist Party (CCP), seeking to insulate the country’s top brass from Western sanctions like those imposed on Russia over the Ukraine conflict, has allegedly issued a directive discouraging senior officials from buying assets abroad. The new policy will block promotions for CCP elites who have significant overseas holdings, the Wall Street Journal reported on Thursday, citing unidentified people familiar with the matter. The restriction will apply not only to assets owned dire

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Last updated : 19 May 2022 clock 08:40 PM

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