China suspends G-20 anti-corruption task force

Posted on:21 Apr 2016 14:25:33
China suspends G-20 anti-corruption task force
21 April 2016 Current Affairs: China suspended an international anti-corruption task force earlier this year after taking over the G20 presidency, Reuters reported, citing sources.The so-called “Business 20″ Anti-Corruption Taskforce, comprising businesses and civil society groups, had been drawing up G20 policies for increasing transparency of offshore financial structures, among other work.But the body was scrapped in late January because Chinese companies declined to participate, sources were quoted as saying.The B20, the G20′s business outreach arm, and its various task forces are by convention led by companies from the nation holding the presidency.The state-run China Council for the Promotion of International Trade, this year’s head of the B20, did not provide an explanation for suspending the anti-corruption task force, the report But three people who had worked on the task force, who represented international, US and European institutions, told Reuters that the trade group could not persuade a Chinese company to take on the role of leading the task force.

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