China’s prosecutors vow to focus on economic crimes
Authorities will pursue cases involving internet finance as well as securities and futures trades, national meeting hears
Mainland prosecutors have pledged to crack down on economic crimes as the nation grapples with slower growth, state media reported on Sunday.
They would target irregularities in internet finance, as well as crimes related to securities and futures trading, according to a statement released after a meeting of the nation’s chief prosecutors in Beijing.
The authorities have already stepped up scrutiny of the internet finance sector, after several large players ran into difficulties and stuck investors with the cheque.
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The banking regulatory issued a draft consultation last month that sought to narrow how peer to peer lenders raise their money.
In the latest announcement, the political and legal work departments at all levels were told to cooperate with the China Banking Regulatory Commission to establish a monitoring and warning system against financial risks and improve information sharing among regions and government groups, Xinhua reported.
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Prosecutors also vowed to protect equally the rights of state-owned enterprises, private businesses, small and micro companies, and foreign-funded enterprises.