Highlights of work reports from SPC and SPP

A man checks share prices on his mobile phone in Beijing July 16, 2015. [Photo/Agencies]

8. Fight against financial crimes

SPC: Cracking down financial crimes to ensure the healthy development of the capital market.

Interpretation:

The fight against crimes in the field of securities has attracted public attention in the past year. Some securities employees took illegal behaviors in trades and some were suspected of fabricating and spreading fraud information. Police have started investigations into such cases. This year, the SPP has clearly said that it will fight against financial crimes to better maintain market orders.

9. Criminals in illegal fundraising to be punished

SPC: Punishing economic crimes, such as illegal fundraising and private lending. Courts will enhance the research and guidance in cases involving illegal Internet financing.

SPP: Fight against economic crimes involving lots of people, protecting the public's rights and interests.

Interpretation:

At the turn of the year, online peer-to-peer broker Ezubao's illegal fundraising case attracted wide attention. Preliminary investigations have shown that the P2P platform collected some 50 billion yuan ($7.7 billion) from around 900,000 investors. The SPP said it would fight against such economic crimes relating to lots of people. The SPC pledged to punish illegal fundraising to regulate the Internet financing and private lending.