MORE EFFORTS EYED
Reaching out to the international society, China does not shy away from demonstrating its zero-tolerance of corruption to the world, and the readiness to cooperate with law enforcement agencies in other countries.
In May, China pledged to enhance cooperation with Cuba and Russia in fighting corruption, and take anti-corruption as a key area for consolidating partnership with the two nations.
In the same month, Foreign Minister Wang Yi told his United Arab Emirates' counterpart Sheikh Abdullah that China wishes to enhance cooperation in tracing corrupt fugitives and recovering their illegal properties overseas.
Earlier in April, the CCDI exposed the whereabouts and other information of 22 corrupt fugitives, urging them to surrender as soon as possible, the first time for China to do so.
According to the CCDI's report, 19 fugitive suspects fled China last year, compared with 31 in 2015 and 101 in 2014. The sharp decrease in the numbers indicates the important progress the watchdog has made to get back overseas corrupt fugitives and their illicit gains.
Dr. Gerishon Ikiara, senior lecturer on International Economics from the University of Nairobi, said China's severe and effective punishment for those corrupt offenders helps "reduce corruption substantially,compared with the rather soft measures applied in Western nations."
Still, more efforts should be made since "anti-corruption is a persistent war where soldiers cannot be impatient," Vietnam's Sam warned. "If not, corruption will come back, strong as it used to be, coming with people's distrust."
Patrick Chovanec, managing director of Silvercrest Asset Management Group LLC in New York, said that reforms to tackle corruption need to be implemented across government agencies and down to the provincial and local levels.
GLOBAL BENEFITS
China's anti-corruption efforts have bolstered the confidence of both the public and the global market in the government, said Enrique Dussel Peters, coordinator of the China-Mexico Studies Center (Cechimex) at the National Autonomous University of Mexico.
It also indicates that China will be more open to foreign investors and continue to reform its governance to provide more transparency and predictability, said New York's Chovanec.
Chen Fengying, research fellow at the China Institute of Contemporary International Relations, said the move "offers time-saving benefits for foreign investors, as they no longer need to cultivate relationships before starting a project."
Koh Chin Yee, CEO of Singapore Longus Research Institute, echoed the opinion, saying "the elimination of graft minimizes hidden costs, and eventually consumers benefit from it. To foreign investors, a market that is transparent and rule-based is more effective and efficient to handle."
Ron Mock, CEO of the Ontario Teachers' Pension Plan, said China's anti-corruption efforts in the financial sector "will make it a primary investing destination among Asian countries" for his company.
Abraham Vergara from Mexico's Iberoamerican University noted the anti-graft campaign has further cemented global confidence in trade and investment in China.
"In the meantime, Latin America should take note of China's anti-corruption campaign, said Cechimex's Dussel. "A good part of Latin America has a lot to learn from it."
James Laurenceson, deputy director of the Australia-China Relations Institute, also said dealing with corruption is particularly important now because "China's leadership has recognized (in) the next five years, this economy has to be driven by private sector-led innovation."
