Chinese invest to estate everywhere

Last June 09, Finance Minister of Australia, Joe Hockey says, authorities of this country is widen the survey
of illegal buying estate of foreigners. There are about 200 transaction of this type are investigated as
violated investment code.

- Chinese buy estate: the surface of iceberg
According to Mr. Joe Hockey, Australia tax organization (ATO) is mobilizing all resources of government to
investigate any information related to foreigners buying illigal estate in this country. This offical thinks
that, the present figures just can be "the surface of iceberg".

If in May 2015, there are only 100 cases exchange illigal estate were investigated, in June, this number rose
nearly double. According to Hockey Minister, the investigation is concentrating on estate with value from
300.000 AUD (about 5 billion vnd) to over 40 million AUD. The law of this country forbid foreigners buy
available houses but encourage and allow them to invest to new estate projects.

In the last few years, estate price in some big cities in Australia such as Sydney and Melbourne rose sharply,
caused the worries that foreigners, especially Chinese are making estate market hotter. According to figure of
CoreLogic RP Data, the top data analizing company in Australia, the house price in Sydney rose 15% from May 2014
to May 2015, average 752.000 AUD/house. In Melbourne, these 2 figures are 9% and 569.500 AUD/house.

Not only using money to acquire estate in Australia, Chinese richers are also coming to the South Pacific to buy
small island. Mr. Lam Dong, founder of Chinese home island association (with 60 members presently) talked to
QUang Dong daily newspaper that, he and other 5 people planned to fly to the island such as Fiji, Tuvalu, Tahiti
this month to carry on the above plan.



According to Mr. Lam, Fiji is a top destination because this home island has more than 300 islands and they are "not
too expensive, just about 3 million CNY (about 10,5 billion vnd) an island". Previously, Mr. Lam tried to buy a small
island in Canada but unsucceed.

- "Thieving" money from Italia

At that time, Italia officals get headache with Chinese residence are becoming prosperous, shown by buying estate, expensive
cars, open enterprises...but contribute nothing to the economy of this country.

After the investigation last for 4 years, Italian financial police discovered more than 4,9 billion USD (earned from counterfeit,
prositution, labor exploitation and tax evasion) was smuggled to China. Half of this money was transfer via one of the biggest
bank in China, China Bank. When leaving Italia, this money disappear behind the huge legal wall of China.

Italian officals says, for a long time, Bac Kinh always try to find Western help to hunt for economic crimes. However, they are
not cooperative investigation for above matters. "Despite of best trying, we can not contact offically to judicial authorities
and Chinese police. We jusr discovered 50% the truth", Mr. Pietro Suchan, a prosecutor in Florence said.

On reply, Chinise foreign office says, they don't know anything about above allegation, and remind the commit "strengthen law
enforcement cooperation with other countries and coordinate suppression and pubnishment of transnational crime".