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China's Rich Hiding $1.4 Trillion In Wealth, Study Says

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BEIJING -- China's households hide as much as 9.3 trillion renminbi of income that is not reported in official figures, with 80 percent accrued by the wealthiest people, a study showed.

The money -- the equivalent of $1.4 trillion, much of it most likely "illegal or quasi-illegal" -- is the equivalent of about 30 percent of China's gross domestic product, according to the study, which was conducted for Credit Suisse and published last week by the China Reform Foundation

Read the whole story at nytimes.com

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