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SPP: China to maintain tough stance against corruption in finance sector

Xinhua | August 23, 2023


China's top procuratorate on Tuesday called for unremitting and across-the-board efforts to crack down on corrupt elements in the finance sector, aiming to fight corruption and forestall financial risks.

The Supreme People's Procuratorate (SPP) recently made public four guiding cases to combat corruption in financial institutions, providing references for procuratorial agencies across the country to use in handling such cases in a more targeted manner, the SPP said.

The four cases focus on new types of duty-related crimes, involving embezzlement, the taking of bribes, the misappropriation of public funds, the abuse of power by personnel of state-owned companies, the illegal granting of loans, the illegal issuance of financial bills and insider trading using undisclosed information.

The cases involved state-owned financial institutions in sectors such as banking, futures and asset management.

According to official statistics, a total of 652 people were prosecuted for duty-related crimes in the financial field in China between January 2021 and July 2023.

The SPP said that prosecutors must maintain a tough stance against corruption in the finance sector to safeguard the financial security of the country.