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After media reports revealed the family background of 19-year-old Xu Yichun - charged in the United States over a fatal car accident - questions about the case have erupted on China’s Sina Weibo.
Xu Yichun has been freed on bail set at a whopping US$2 million (HK $15.51 million), but many netizens are wondering how his family managed to get such a large sum of US money so quickly when bureaucracy prevents 20,000 yuan or an equivalent amount being taken out of the country.
Last November, Xu Yichun allegedly sped through a stop sign in Des Moines, Washington, and hit a car full of people, causing the death of one woman and severely injuring other passengers in the car.
He was released from custody after his family paid US$2 million in bail, according to reports.
Singtao Daily revealed his father to be Xu Zhaohong, the chief executive of a prominent mainland tax and accounting firm, taxchina.com.
Xu’s case has caused great controversy in the US and China. A local prosecutor from Des Moines said it was rare for bail to be set at such a high level.
Many Chinese netizens question the legitimacy of the money. One wrote: “Did they obtain the US$2 million legally? Perhaps, it is taxpayers' money.”
Another asked: “Is taxchina.com a private company or a state-owned enterprise?”
A third said: “Where did the US dollars come from? Through what channels did they transfer such a large sum of money out of China? You have to know whehter state approval is required for any overseas investment in China.”
Currently, China controls and monitors the amounts of money coming into and out of the country via a mechanism known as Safe - The State Administration of Foreign Exchange.
China does not permit travel outside of the country with up to 20,000 yuan or an equivalent amount. To legitimately take money out of China, an application with proof of income taxes paid in China, and details of the overseas bank account must be made to Safe.
Chinese residents can buy up to US$50,000 in foreign currency each year at mainland banks under current regulations.


US$2m bail payout for Chinese student charged over fatal US crash baffles netizens

A picture of Xu Yichun and his car. Photo: SCMP/CUTV Picture

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