China’s top prosecutors promise financial crime crackdown is about to ramp up
- Head of the Supreme People’s Procuratorate’s economic crimes office says targets will include insider trading and market manipulation
- Strong rule-of-law guarantees will be provided ‘to serve and safeguard high-quality financial development’
Zhang Xiaojin, head of the Fourth Procuratorial Office, which is in charge of economic crimes, said efforts would be made to “provide strong rule-of-law guarantees to serve and safeguard high-quality financial development”.
Prosecutors would also target crimes that damaged the order of the capital market and the interests of listed companies, he told the SPP’s affiliated media in the interview that appeared a week before Lunar New Year, which begins on Saturday.
Zhang said the crackdown would “provide strong support for accelerating the construction of a standardised, transparent, open, dynamic and resilient capital market”.
Crimes in the field of securities and futures “seriously undermine the basis for the operation of the capital market, infringe upon the legitimate rights and interests of investors, and endanger economic and financial security”, he said.
