Chinese police to intensify crackdown on financial crime

BEIJING -- Chinese Ministry of Public Security has told police to step up the crackdown on financial crime, with a focus on illegal fund-raising, internet finance, securities and futures.

A ministry document said that China faced a high incidence of financial violations that could involve large numbers of people, creating significant risk for the finance sector. It said fighting such crime would prove a tough task.

The ministry called on the police to check for financial risks and improve early warning and prevention.

It also said police must give reports and suggestions to the Party and government departments to help the early discovery and handling of any financial risks.

The ministry called for coordinated efforts with government agencies to investigate and solve illegal financial activities, and improve laws and regulations.