More than 340 in corruption net as China’s top prosecutors double down on tackling financial crime
- Number of people charged with corruption or dereliction of duty last year rose nearly 35 per cent from 2022, Supreme People’s Procuratorate says
- Prosecutors working to prevent and defuse economic and financial risks to support long-term growth of the economy, according to article on SPP website
Hundreds of members of China’s finance sector were charged with professional crimes such as insider trading last year under renewed efforts to improve monitoring, according to the top prosecutor’s office.
Prosecutors worked on “preventing and defusing economic and financial risks”, the article said, citing a representative from the SPP’s case management office.
They targeted corruption in the financial sector, and crimes such as dereliction of duty and abuse of power committed by staff of financial oversight departments, it said.
The rule of law gives “important guarantees for development and the best business environment”, the SPP said, adding that procuratorial agencies across the country had worked on “providing rule of law safeguards to maintain an upturn and long-term growth of the country’s economy”.
In addition, prosecutors worked with the Ministry of Public Security to oversee the handling of 12 major financial fraud cases, and 16 major cases involving private equity funds. More than 300 individuals were charged for crimes related to securities, a year-on-year increase of 9.2 per cent, it said.
