On The Improvement Of China's Asset Sharing System

Currently,a series of actions targeted at capturing officials who have fled abroad,such as"Fox Hunt 2016" and "Sky Net",have been ongoing smoothly.China has made remarkable achievements in recovering stolen money and goods with which officials have escaped abroad.However,during the action process,some problems with the international judicial assistance have been revealed.The problem is particularly prominent with "recovery stolen money or goods".The assets recovered are often a small amount of the total.Concerning the status of asset outflow in China,the asset sharing system is not only an efficient solution,but also of positive significance to improve the international mutual assistance efficiency and encourage other countries to join in China’s efforts to crack down on the criminal behaviors.So far,the system has been fully recognized in the international community.A mature asset sharing system has been set up in the U.S.,U.K.,and Australia to play an important role in recovering assets and promoting international cooperation.Though China has also joined in relevant international conventions in terms of the asset sharing system,the Anti-Drug Law of the P.R.C coming into effect in 2008 has stipulated on asset sharing,and China has also cooperated with other countries in terms of asset sharing,there has not yet been a systematically complete asset sharing system put in place in China.As a result,China has encountered some obstacles and dilemmas in terms of international cooperation of asset sharing.In order to maintain national economic interests,improve the working efficiency of recovering assets from foreign countries,and promote international cooperation,it is imperative to transform the asset sharing system in line with China’s national conditions.Currently,the international law and the exterritorial domestic law have been relatively mature.Of course,when referring to relevant development experiences of the international community,China should first transform its concept of the asset sharing system based on the national development status.Only after that can China further improve its domestic law related to asset sharing,gradually establish a systematic set of asset sharing procedures,actively cooperate with other judicial assistance activities,and effectively safeguard national interests and interests of the people.