Since April, Chinese police have uncovered 170 cases of illegal money transfers involving a total of 800 billion yuan of transactions, the Communist Party’s flagship newspaper says. Photo: AP

Beijing targets China’s vast web of underground banks in crackdown on corruption

Police claim success against one massive illegal network but a researcher says this could be just the tip of the iceberg

Topic |   Xi Jinping's anti-corruption campaign

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Since April, Chinese police have uncovered 170 cases of illegal money transfers involving a total of 800 billion yuan of transactions, the Communist Party’s flagship newspaper says. Photo: AP
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