China’s Supreme People’s Procuratorate (SPP) has issued a comprehensive directive to nationwide prosecutorial bodies, demanding intensified efforts against severe economic offenses to foster a legally compliant business environment. The announcement emerged from Monday’s national conference of chief procurators, where strategic priorities were established for combating financial misconduct.
The SPP emphasized particularly stringent measures against smuggling of strategic minerals overseas, identifying such activities as direct threats to China’s national security interests. The directive calls for enhanced coordination with the National Financial Regulatory Administration to eliminate illegal intermediary practices within financial markets.
Prosecutors were instructed to impose severe penalties for illegal fundraising schemes and financial fraud operations to ensure systemic financial stability and protect citizens’ property rights. The campaign specifically targets money laundering activities facilitated through underground banking networks and virtual currency transactions.
Furthermore, the SPP announced strengthened collaboration with the China Securities Regulatory Commission to enforce legal standards in capital markets. This partnership will focus on rigorous prosecution of securities violations including market manipulation and corporate financial fraud, signaling a comprehensive approach to economic governance.