Chinese courts have turned their attention towards internet finance crime to ensure the healthy development of the sector. Pressure must be placed on fighting illegal fund-raising cases, which are key to controlling financial risks, according to a guideline issued by the Supreme People's Court last Thursday. It highlighted cases involving the illegal taking of deposits from the public or fraudulently raising funds under the guise of financial innovation. The guideline also provided instructions on handling civil lawsuits concerning financial disputes.
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Innovation in the financial sector must adhere to the principle of serving the real economy without acting as a cover of financial crimes. In this regard, it is essential to strengthen financial supervision and management, to guide the sector toward the right direction.
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