China will push ahead ‘resolutely’ with financial sector fight, says Li Keqiang
Premier says regulators have ‘lanced the boil’ of illegal market activities and will continue to tackle them
China said it will continue to “resolutely” tackle financial irregularities, after several officials and tycoons were punished last year in a crackdown on market manipulators and fraud.
“Some unlawful and [risky] conduct has been making waves in China’s financial sector,” Premier Li Keqiang said at a press briefing wrapping up the National People’s Congress on Tuesday.
China’s regulators had been working “decisively” to prevent financial risk from spreading, Li said, and had “lanced the boil” of illegal market activities to avoid moral hazard. “If similar problems emerge in the future, we will continue to tackle them resolutely,” he said.