According to Odaily, on the morning of June 25, the Audit Office, commissioned by the State Council, reported the execution of the central budget and other fiscal revenues and expenditures for the year 2023 to the Standing Committee of the National People's Congress. The report indicates that corruption methods are becoming increasingly covert and sophisticated. As anti-corruption efforts intensify, corrupt practices are becoming more concealed, leveraging information technology and regulatory loopholes. New forms of corruption and latent corruption are beginning to emerge.
The report cites an example of a department-level official in the financial regulatory department who used his position to support specific private enterprises to enhance their industry competitiveness. This official received large amounts of money and equity, and concealed the source of the funds transferred by the private enterprises through 'technical processing'. This included withdrawing and depositing at the same outlet, using relatives' bank accounts, and conducting virtual currency transactions. This case presents typical technical characteristics.