Reports published about China's crackdown on tiger and fly corruption has lead to one of the world's biggest
banks putting a price on the corruption.
This weeks report published by the Bank of America Merrill Lynch, on the Chinese government's anti graft campaign has cost the economy more than $100bn this year.
Many effects of the anti corruption drive has already been documented; including a slowdown in the restaurant business and luxury good sales which has seen Chinese business go bust.
The gift culture is to blame and part of the Chinese business culture and required by foreign companies if doing business in China.
This year has seen Shanghai's expensive malls and boutique designer shops reduce to a snails pace. However
the BofAML report suggests that the campaign is having a significant and troubling effect on the economy.
Last year, government bank deposits have been increased by almost 30% year-on-year and even honest officials are now scared of starting new projects, for fear of being seen as corrupt that they are simply keeping
public funds in the bank.
The cost to the economy is an estimated reduction in growth of at least 0.6% this year but it could, the report argues, be as high as 1.5% which shows figures around $135bn in lost economic activity.
Report authors say their calculations are only estimates of fiscal contraction, but even if they are only ½ right it is an extraordinary amount of money highlighting some of the challenges faced by China's anti-corruption crusader chief, President Xi Jinping.
Since taking office President Xi Jinping has made the cause his goal, warning that official graft/extravagance threaten the survival of the ruling Communist Party.