China’s top prosecutors promise financial crime crackdown is about to ramp up. Beijing is intensifying its efforts against financial crimes, targeting illegal fundraising, loan fraud, money laundering, and market manipulation among others. This crackdown, led by the Supreme People’s Procuratorate, aims to bolster high-quality financial development and secure economic and financial stability. The move aligns with President Xi Jinping's emphasis on rigorous financial regulation and corruption prevention to manage systemic financial risks.
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Asia Daily: February 6, 2024
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China’s top prosecutors promise financial crime crackdown is about to ramp up. Beijing is intensifying its efforts against financial crimes, targeting illegal fundraising, loan fraud, money laundering, and market manipulation among others. This crackdown, led by the Supreme People’s Procuratorate, aims to bolster high-quality financial development and secure economic and financial stability. The move aligns with President Xi Jinping's emphasis on rigorous financial regulation and corruption prevention to manage systemic financial risks.