17 June 2011 Last updated at 11:56 ET
Between 16,000 and 18,000 officials and employees of state-owned companies left China with the funds from the mid-1990s up until 2008.
The officials used offshore bank accounts to smuggle the funds, according to the study posted on the People’s Bank of China website this week but which has since been removed.
The stolen funds were covered up by disguising them as business transactions by establishing private companies to receive the money transfers.
The study said corruption inside China was severe enough to threaten the nation’s economic and political stability.