Wednesday, February 8, 2012

Investment News and Commentary from Emerging Markets in Asia - China, India and ASEAN





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2point6billion.com discusses investment news and events from the emerging markets of Asia - including India, China and the ASEAN countries. It is produced by the Asian foreign direct business advisors at Dezan Shira & Associates from their offices across emerging Asia.




Chinese Communist Party Declares New Ethics Code

Feb. 24 – The Chinese Communist Party released a new code of ethics this week just before the start of its yearly annual National People’s Congress.

Three thousand delegates from all over the country will gather in Beijing for the annual meet.The new ethics code is part of government efforts to stamp out widespread corruption; warning party members of 52 unacceptable practices.

These include accepting cash gifts, using their position to benefit family members, being involved in for-profit activities and using public money for personal interests reports Xinhua.

The new code will replace a 1997 one. Party officials found guilty of breaking the code will be punished and could face criminal charges as well as possible death penalty. According to China Daily, an estimated 4,000 corrupt officials have left the country siphoning US$50 billion worth of funds from 1978 to 2003.

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