Is China laundering money in Australia?

China's state broadcaster CCTV has accused the Bank of China of laundering money in Australia.

Source: finance.ninemsn.com.au...

Is China laundering money in Australia?

I've often said you can buy your way into Australia, and this article appears to prove it.

Wow! I always thought it was Canada.........hmmm.

Well yeah.

Since the state owns Chinas banks.

Hell the state owns all business, and finance there.

originally posted by: minusinfinity
Wow! I always thought it was Canada.........hmmm.

It's probably happening here too, real estate, oil field assets, etc.

a reply to: Maigret

Lot of stress in chinese financial systems so their rich are hedging their bets and the Australia government is welcoming it.

originally posted by: neo96
Well yeah.

Since the state owns Chinas banks.

Hell the state owns all business, and finance there.

That is completely untrue. Business is not wholly owned by the state. There is private ownership of business. Not sure where you got that idea.

a reply to: Maigret

The Chinese aren't just laundering money here, they are buying everything they can get their hands on...

Without a doubt much of China's big business is state owned by the government, from the oil, to banking, industrial, way more so than anywhere in the world, of course not all of it is but the vast majority...

Hell yes they are laundering money ALL over.
It is not just to Australia, even american businesses
they funnel money into it and right it off the books..
the cooked books and the batch books..

originally posted by: snowspirit

originally posted by: minusinfinity
Wow! I always thought it was Canada.........hmmm.

It's probably happening here too, real estate, oil field assets, etc.

Without a doubt

It's actually happening all over the world wherever China does business..

originally posted by: TritonTaranis
Without a doubt much of China's big business is state owned by the government, from the oil, to banking, industrial, way more so than anywhere in the world, of course not all of it is but the vast majority...

Not even close.

Less than 35% of Chinese corporations are SOE (State Owned Enterprises)...and it is falling fast.

Your average Chinese citizen is not a big SOE fan, and as they now make up the majority of Chinese business sales, Chinese corporations (and government) have been forced to adapt.

Also, for the record, there is, currently, more SOE's in the EU than China.

I stand correct: SOE's now comprise less than 5% of Chinese enterprises.

a reply to: peck420

Thanks for the statistics. I do business in China, have for 8 years. It would be news to the factory owners I work with that the government owns their factories.

a reply to: neo96
Do your research dude then make an informed comment on the country ( you clearly don't live in!)

originally posted by: DarknStormy
a reply to: Maigret

The Chinese aren't just laundering money here, they are buying everything they can get their hands on...

Yes - you're so right! And this leads to the question of where they're getting all the money from, while 'Western' governments are crying economic poverty?

originally posted by: glend
a reply to: Maigret

Lot of stress in chinese financial systems so their rich are hedging their bets and the Australia government is welcoming it.

I suspect the scale on which China is buying up and investing in other countries, shows it is more than just a small percentage of the financial elite protecting their financial interests, glend.

Could it be an economic takeover?

a reply to: Maigret

US already owns over 80% of australian mines etc so China is only picking our bones (see www.sciencemedia.com.au... ). I looked into one of the US companies buying into australian called Blackrock, it was founded in 1998, yet today has over 12 trillion in assets worldwide. Impossibility unless it was created by the FED to swap soon to be toxic US paper dollars for assets in Australia and other countries.

Blackrock... www.vanityfair.com...

originally posted by: neo96
Well yeah.

Since the state owns Chinas banks.

Hell the state owns all business, and finance there.

Chinese State Media accusing another Chinese State entity of crimes. Part of me wants to open the blinds on my window to see if there is some beast ripping out my roof shingles. Sounds like an episode of the Twilight zone.

a reply to: Maigret
More benefits of so called Free trade and unregulated foreign investment. Ho Hum another day in the banana republic built on lies!.

a reply to: sputniksteve

Thanks for the statistics. I do business in China, have for 8 years. It would be news to the factory owners I work with that the government owns their factories.

Never heard of Corporatism then? Crony Capitalism? Public/Private Partnerships. You must be naïve for someone in business something doesn't add up about your claim!