Asset Recovery And The Return Mechanism And Its Application In China

Along with the economic globalization and deeper international communication, corruption has become a cross-boundary problem affecting the social life and economics of every country in the world. The international society has realized international cooperation is very important to prevent and punish corruption. The UN Convention Against Corruption establishes the legal mechanism of preventive measures, criminalization and law enforcement, international cooperation, asset recovery, technical assistance and information exchange. The convention is the first global legal instrument against corruption. It provides universally accepted norms for tackling transnational corruption.The fleeting abroad of corrupting officials has done great damage to the politics, economics and society of the whole world. Along with UN Convention Against Corruption going into effect, people begin to pay more attention to the international cooperation issues of counter-corruption. The biggest contribution of the convention is that it has established a set of completed mechanism for the recovery of assets taken through corrupting crime. However, as the immature legislation and actual difficulty for the convention in the implementation process, China has not yet established a set of system to effectively recover the corrupting crime property taken into foreign countries. We need to perfect the Chinese legislation on crime of corruption according to the convention to corrupting officials from fleeting abroad and prevent and illicit assets from being transferred abroad.