The head of the Chinese Supreme Court has flagged a zero tolerance attitude towards fraud and malfeasance on the domestic capital market.
Zhou Qiang (周强), the head of the Chinese Supreme Court, said that in 2020 the court had “severely punished crimes including the manipulation of the securities futures market, insider trading, underground banking and money laundering, as well as severely struck against absconding from debt.”
Zhou made the remarks during a work report delivered before the National People’s Congress on the afternoon of 8 March, during China’s annual Two Sessions legislative event.
Zhou said that the court would maintain “zero-tolerance” for law-breaking and crimes involving the Chinese capital market, and that it would actively participate in efforts to rectify Internet financial risk.
Key measures highlighted by Zhou included the establishment of a Shanghai Financial Court and a Beijing Financial Court, and the release of opinions on registration trials for China’s Second Board Growth Enterprises Market.