Procuratorates maintain heavy-handed approach against economic, financial crimes

Chinese procuratorates have been maintaining a heavy-handed approach to cracking down on crimes in economic and financial sectors, in a bid to forestall and defuse financial risks, the Supreme People's Procuratorate (SPP) said Tuesday.

The SPP said in a statement that in the first quarter of this year, procuratorial agencies nationwide have been targeting tax-related crimes in some key industries and sectors such as showbiz and entertainment and foreign trades, launching prosecutions against 1,842 people.

In an area of illegal fund-raising crimes using the guise of eldercare and online loans, a total of 3,808 people have been indicted over the first three months of the year, the SPP said.

It added that 197 people have been accused of violations regarding private equity funds, amid the procuratorates' efforts to ensure the law-based development of the capital market.

Also, a total of 276 people have been indicted for suspected money-laundering violations, according to the top procuratorate.