China's procuratorial organs committed to creating law-based business environment

BEIJING -- China's procuratorial authorities remained committed to creating a law-based business environment and cracking down on financial crimes, a work report of the Supreme People's Procuratorate showed Friday.

The report was delivered by SPP Procurator-general Ying Yong at the second session of the 14th National People's Congress.

A total of 121,000 individuals were prosecuted in 2023 for sabotaging the market economic order, up 20.4 percent year on year, as a result of China's efforts to stabilize social expectations and boost market confidence through the rule of law, according to the report.

The report stressed that business entities of various types are treated equally and all protected by law in China.

Last year, 27,000 individuals were prosecuted for crimes of financial fraud and disrupting the order of financial administration, it added. Among them, 18,000 people were prosecuted for crimes of fund-raising fraud and illegally taking in deposits from the public.

Outlining its work plan for 2024, the SPP vowed to firmly crack down on financial crimes to serve the high-quality development of the financial sector, according to the report.