Related News
Crackdown on illegal fundraising
CHINA will tighten its crackdown on illegal fundraising to fend off financial risks in 2018, according to an inter-agency anti-illegal fundraising meeting.
China will strengthen the supervision mechanism for illegal fundraising, hold local government officials accountable and improve the legal system and public education this year.
Rising illegal fundraising has been curbed thanks to efforts in high-profile cases.
China saw 5,197 illegal fundraising cases in 2016, involving 251.1 billion yuan (US$39.8 billion), down 14.48 percent and 0.11 percent year on year, respectively, official data showed.
Despite the progress, eastern coastal areas, central and western regions with large populations are still vulnerable to fraud.
Internet finance has grown as investors seek higher returns than bank deposits while small businesses secure funds through online brokers. But risks have piled up as regulations cannot keep up with the pace of development.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.