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China to improve combating, prevention of securities market crimes

Xinhua | June 1, 2023


China's Ministry of Public Security has issued a circular to improve the combating and prevention of crimes in the securities market, and to ensure the sound implementation of the registration-based IPO system across the board.

The ministry urged rigorous efforts to tackle crimes such as the fraudulent issuance of securities, irregularities in disclosure of important information, and the complicity of intermediaries in financial fraud and the provision of counterfeit or gravely inaccurate certificates.

The investigation and handling of crimes that infringe on the interests of listed companies should be expedited, and the organizers and relevant intermediaries of crimes involving the unauthorized issuance of stocks, corporate bonds or enterprise bonds should be handed punishments in accordance with the law, the ministry said.

It urged efforts to continuously improve early warning and interception capabilities concerning telecom and cyber fraud. It also urged efforts to establish a multi-dimensional and extensive anti-fraud publicity system, and to effectively enhance anti-fraud awareness and capabilities among investors.