China Vows Zero Tolerance for Financial Crimes, Will Review Punishments
- Crackdown may meas faster convictions, harsher punishments
- Regulator vows to strengthen coordination with judiciary
Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s financial regulator said it would adopt a “zero tolerance” approach to illegal behavior and will consider revising punishment rules to make sure those who commit crimes pay a “painful price.”
The National Financial Regulatory Administration said in a Sunday WeChat statement it will also strengthen communication and coordination with the nation’s judicial organizations.