Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Finance

    Illegal fundraising wanes as crackdown efforts bear fruit

    By Jiang Xueqing | China Daily | Updated: 2018-07-31 09:24
    Share
    Share - WeChat
    [Photo/VCG]

    The number of illegal fundraising cases and the amount of money involved has dropped noticeably since 2017, as China stepped up its crackdown on such activities.

    Statistics from the interagency task force leading the crackdown on illegal fundraising practices show that in the first three months of this year, 1,037 illegal fundraising cases occurred nationwide, and the number declined by 16.5 percent year-on-year. During the same period, the amount of money involved with these cases fell 42.3 percent year-on-year to 26.9 billion yuan ($3.95 billion).

    The decrease followed the same trend in 2017 when the number of illegal fundraising cases during the year fell 2.8 percent year-on-year to 5,052, and the amount of money involved dropped by 28.5 percent to 179.55 billion yuan.

    In spite of the achievements, illegal fundraising is still a serious issue, as the number of people participating in such activities keeps growing and interprovincial cases continue to occur frequently, said Yang Yuzhu, director of the office of the interagency task force leading crackdown on illegal fundraising.

    To intensify China's battle against financial risks, Yang said the interagency task force will push ahead with the launching of stricter regulations to prevent illegal fundraising, screen illegal fundraising risks nationwide, and further integrate resources to promote the establishment of a risk monitoring and early warning system.

    By the end of 2017, risk monitoring platforms based on big data analytics were put into service in 14 provinces.

    According to the interagency task force, illegal fundraising cases conducted by unlicensed financial institutions, including private investment and fundraising companies and online platforms, accounted for more than 30 percent of the total. Recently, many people were found using WeChat, the most used messenger app in China, for illegal fundraising, thus enabling the risks to spread more quickly.

    Wang Ning, a senior prosecutor of the Supreme People's Procuratorate, said: "In recent years, criminals have adopted an 'Internet Plus' type of investment model for illegal fundraising, by setting up e-commerce platforms or using the channels of WeChat business, multilayered distribution and mobile applications."

    Combining online and offline models, many financial information service providers and asset management companies illegally accept deposits from the public with the promise of high returns, in the name of peer-to-peer lending, a form of borrowing and lending between individuals and small businesses, Wang said.

    From June 1 to July 20, 252 peer-to-peer lending platforms were found to be facing financial problems. Among them, 155 platforms issued statements on overdue loans or suspension of payments, according to the data from p2p001.com, a Shenzhen-based internet financial web portal.

    Some criminals raised funds illegally in the name of financial technology innovation, using more concealing measures such as initial coin offerings or virtual currencies, said Gong Yan, deputy director of the legal affairs department at the People's Bank of China, the central bank.

    The central bank and related government departments have jointly issued timely risk alerts on alleged illegal fundraising activities at virtual currency exchanges and have taken actions to restore market order, Gong said.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    日本精品中文字幕| 成人无码WWW免费视频| 中文字幕无码免费久久| 亚洲av中文无码乱人伦在线咪咕 | 无码精品人妻一区| 亚洲AV永久无码精品| 韩国三级中文字幕hd久久精品| 亚洲乱亚洲乱少妇无码| 97精品人妻系列无码人妻| 亚洲动漫精品无码av天堂| 久久伊人中文无码| 欧美日韩v中文字幕| 亚洲中文精品久久久久久不卡| 精品无码专区亚洲| 免费无遮挡无码永久视频| 亚洲自偷自偷偷色无码中文 | 中文字幕7777| 国产精品无码久久久久久| 夜夜添无码试看一区二区三区| 日韩欧美中文字幕一字不卡| 日本久久久精品中文字幕| 亚洲自偷自偷偷色无码中文| 无码高清不卡| 蜜桃视频无码区在线观看| 国产精品热久久无码av| 国产又爽又黄无码无遮挡在线观看| 亚洲AV无码国产在丝袜线观看| 亚洲精品无码av人在线观看| 国产aⅴ无码专区亚洲av麻豆| 久久午夜福利无码1000合集| 久久久久久精品无码人妻| 中文字幕精品亚洲无线码一区应用 | 中文字幕色婷婷在线视频| 中文无码字慕在线观看| 国色天香中文字幕在线视频| 婷婷五月六月激情综合色中文字幕| 亚洲av无码成人精品区| 日韩亚洲不卡在线视频中文字幕在线观看 | 亚洲欧洲日产国码无码久久99| 最近2019年免费中文字幕高清| а中文在线天堂|