Chinese oil giants make use of offshore shell companies in Caribbean

[AndrewT]

Even Chinese are using offshore companies to benefit from low taxes and anonymity. That's interesting if we know what their state system is.


"The country's biggest oil companies ”“ Sinopec, PetroChina and the China National Offshore Oil Company (CNOOC) ”“ are among the world's largest businesses, but executives in the industry are embroiled in multiple corruption probes, many tied to networks of shell companies around the world."

 

[JohnLocke]

Indeed interesting, however, not new to us, there are many from China who are seeking a offshore company for instant in the BVI or Seychelles. Thank you for sharing the information.

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[healthfitness]

Great post. The Chinese are very resourceful, and are become ever-increasingly so with there overseas ventures. They are literally on a global mission to establish financial superiority in every region possible. They are in almost every continent purchasing land, debt, and resources to sustain their rapid growth. Some of this growth is inflationary, and may hurt them in the end, just as Japan with their "lost decade".


Many will remember when Japan was a tech giant, and purchased many companies globally, and was seen as the future tech giant of the world. These days, it is rare to hear Japan in a conversation about the economy. If China does not buy a clue from this experience they will over invest in the wrong areas (like Japan did), and end up holding the bag with egg on their face. We wil have to stay tuned...

 

[walterz]

China is one of the biggest resource for our bussiness so far. So it's true that china offshore companies making bank from tax and anonymity

 

[myshufflemix]

This is the latest trends to large global companies. They declare all of their income to other country with lower corporate tax.

 

[Jack Dui]

walterz said:
China is one of the biggest resource for our bussiness so far. So it's true that china offshore companies making bank from tax and anonymity
Click to expand...

Chinese brain also unique. I heard somewhre, you just tell them what you need, they will make it!!

 

[johnskywalker]

I'm not even surprised by this. I'm sorry if someone gets offended but their country is a pure Communist. They are eager to take advantage of every little possibilities they have. An example is they claim Islands that is not legally for them but because of good resources from that Island, they claim that this Island originally belongs to China!