Printer Friendly
The Free Library
19,607,059 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

China says it will chase foreign investors who flee debt


China will track down foreign investors who flee the country leaving debts and other liabilities other liabilities

Small and relatively insignificant liabilities. For financial reporting purposes, firms often combine small liabilities into this single category rather than listing each liability separately.
 behind, and may even ask for their extradition extradition (ĕkstrədĭsh`ən), delivery of a person, suspected or convicted of a crime, by the state where he has taken refuge to the state that asserts jurisdiction over him. , the government said.

People who leave without paying their dues have caused "heavy economic losses to Chinese stakeholders Stakeholders

All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government.
" and had a "negative impact on social stability", the government said in a statement over the weekend.

Beijing will work through diplomatic channels to seek the return to China those who have left to escape huge taxes, said the statement, posted on the central government's website.

The statement was vague about who might be targeted, but it also seemed to cover businesspeople who leave failed companies.

Beijing is increasingly concerned about business closedowns, as hundreds of thousands of migrant workers A migrant worker is someone who regularly works away from home, if they even have a home.[]

Although the United Nations' use of this term overlaps with 'foreign worker', the use of the term within the United States is more specific.
 become jobless job·less  
adj.
1. Having no job.

2. Of or relating to those who have no jobs.

n. (used with a pl. verb)
Unemployed people considered as a group. Used with the.
 after factories in the coastal areas go bankrupt with exports falling amid the world economic crisis.
Copyright 2008 AFP Global Edition
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright (c) Mochila, Inc.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Author:AFP
Publication:AFP Global Edition
Date:Dec 22, 2008
Words:139
Previous Article:Bonzi Wells scores 48 in China basketball debut
Next Article:Thai king to swear in new cabinet



Related Articles
EDITORIAL MAKING PROBLEMS.
China revises forex rules to monitor flows
China says it will chase foreign investors who flee debt

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles