Beijing intensifies crackdown on financial crimes

More than 4,500 financial cases have been solved and over 5,500 suspects arrested since last year, data released by Beijing's Public Security Bureau showed on Saturday.

Police officers across the city focused more on fighting crimes of financial fraud, telecom fraud and cross-border gambling, solving more than 60 relevant cases and over 90 suspects, according to the data.

The bureau said it called for all public security departments citywide to intensify the crackdown in the field of securities, revealing that a total of 91 people suspected of securities-related crimes have been detained.

It added that the fight has played a big role in effectively preventing financial risks and maintaining the safety of the securities market.

Last year, police officers across the city also worked with banks and foreign exchange departments to jointly launch a campaign against underground banking and money laundering, which contributed to cutting off the funding channels for subsequent financial crimes.

In addition, public security departments citywide captured more than 610 people suspected of tax-related crimes, helping recover 1.46 billion yuan ($209.8 million) of tax losses.

The bureau said that strengthening the crackdown in various financial sectors is not only to strongly protect legitimate rights of investors and residents, but also to help the capital build a sound business environment and promote economic development.