China rebukes Panama Papers

In the wake of the “Panama Papers” data leak, one country that will not be investigating the widespread use of offshore companies by its political elite is China. The Financial Times reports that days after the disclosure shed light on the suspected tax vehicles set up by a Panamanian law firm for global leaders and their associates, including the relatives of at least eight senior Chinese politicians, government officials and state media remained largely silent about the revelations. China’s foreign affairs ministry called the allegations groundless, and the Global Times claimed it was “disinformation.”