A Beijing government official claimed the mainland was winning its fight against financial corruption.
Feng Tiyun, Vice-Minister of Supervision, yesterday told Xinhua efforts being made to tackle corruption in the financial system in recent years had at last paid off.
He claimed the surge in large financial cases had been controlled last year thanks to the tougher measures.
'Comparing 1996 with 1995, economic-related crimes involving 2,000 yuan [HK$1,868] or above fell by 15.16 per cent,' he said.
Some financial organisations believe conducting business outside the law is a quicker and easier way to generate wealth.
The problem was particularly evident among credit co-operatives in urban and rural areas, non-banking financial institutions and trust investment companies.
