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China Seeks Help in Tracking Fugitive Investors


China is asking other nations to help it find and return foreign investors who flee the country, leaving behind empty factories and massive debts.

The state run Xinhua news agency says in eastern Shandong province alone, at least 87 companies funded by South Korean investors left this year without properly liquidating assets. It says China will seek extradition of fugitive investors in cases where large sums of money are involved.

The global economic downturn has hit Chinese manufacturing and export industries especially hard as demand declines for Chinese products.

Thousands of factories have closed across the country and Chinese media reports millions of migrant workers have left factory jobs to return to the countryside.

Some information for this report was provided by Reuters.

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