China Pledges Greater Effort to Crack Down on Financial Crime
Cao Jianming, Procurator-General of the Supreme People's Procuratorate, speaks during the third plenary session of the National People's Congress in the Great Hall of the People in Beijing on March 13, 2016. Photographer: Greg Baker/AFP via Getty Images
China’s judicial authorities vowed to do more to combat financial crimes in the coming year, as the economy slows and leaders remain concerned that financial risks might lead to higher unemployment and social unrest.
Chief prosecutor Cao Jianming said in his annual report to the country’s top legislature on Sunday that his department would prioritize investigations into finance, securities and insurance to "guarantee a healthy development of capital market." The Supreme People’s Procuratorate plans to tackle financial crimes involvin illegal fundraising to protect the public and focus on contract fraud crimes to establish a "fair and orderly environment of market competition", he said.