Panama Papers scandal: Hong Kong and China account for 29% of law firm’s business

BEIJING: Nearly a third of the business of the law firm at the centre of the Panama Papers scandal came from its offices in Hong Kong and China, reports said, with the Asian giant assailed by corruption and capital flight.

More than 16,300 of Panamanian law firm Mossack Fonseca’s active shell companies were incorporated through its Hong Kong and China offices, 29% of the worldwide total, according to the International Consortium of Investigative Journalists (ICIJ), which co-ordinated a year-long investigation into a trove of 11.5 million documents.