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Hundreds of people in China’s financial sector were charged with occupational crimes such as insider trading last year under a new effort to tighten oversight, a top prosecutor said.
The article cited representatives of the SPP’s Case Management Office as saying that the prosecutor’s office worked on “prevention and mitigation of economic and financial risks.”
In addition to corruption in the financial sector, crimes such as neglect of duty and abuse of authority by financial supervisory officials are targeted.
The SPP said that the rule of law provides “an important guarantee for development and a good business environment” and that prosecutors across the country should “guarantee the rule of law to sustain the country’s economic upturn and long-term growth.” “We have been working to provide the following,” he added.
In addition, the prosecutor’s office, in cooperation with the Ministry of Public Security, supervised the handling of 12 major financial fraud cases and 16 major private equity fund cases. More than 300 people were charged with securities-related crimes, an increase of 9.2% from the previous year.
China’s top prosecutor promises tougher crackdown on financial crimes
China’s top prosecutor promises tougher crackdown on financial crimes
Financial crime remains a priority for prosecutors this year, with the SPP pledging last month to expand its crackdown on crimes such as insider trading and market manipulation.
The pledge comes after President Xi Jinping called on the country’s judicial and law enforcement authorities to prevent and mitigate “grave security risks.”
Mr. Xi delivered this instruction during a two-day national conference in January. correct departure Department – political and legal authority responsible for internal security.
The report was also released as the country prepares to conclude its week-long annual parliamentary session, known as the “bi-session,” on Monday.
He said 27,000 people had been charged with financial fraud and financial mismanagement. Of these, 18,000 people were accused of fund-raising fraud and illegal collection of deposits from the public.
Mr. Ying’s work report also reiterated his commitment to harshly punish financial crimes in order to contribute to “high-quality development of the financial sector” over the coming year.
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In late October, Mr. Xi told the Central Financial Work Conference, a twice-a-decade policy-making meeting presided over by the country’s president, that preventing and resolving financial risks must be an “eternal theme” for the Chinese government. Ta.
In December, the SPP published guidelines enumerating what prosecutors must do to deal with financial crimes.
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