Top court vows to crack down on financial fraud

The Supreme People's Court has reaffirmed its commitment to combating financial fraud and fostering a transparent market environment. The pledge comes alongside the release of five influential court cases highlighting the judiciary's resolve to regulate financial activities and deter fraudulent practices.

The top court emphasizes its "zero tolerance" approach towards violations and crimes within the financial and accounting sectors. It underlines its determination to safeguard economic stability and promote high-quality economic growth.

One case serves as a stark example. A former employee identified by the surname Lin received a two-year prison sentence and a fine for providing false documents during an asset evaluation in Fujian province. Lin's actions inflated the estimated value of a building by over 40 million yuan, potentially causing significant losses to state-owned assets.

The court emphasizes the critical role of professional and accurate asset evaluation in maintaining market order and ensuring economic security. Unethical practices such as unqualified evaluations and falsified reports undermine financial and accounting supervision, posing a threat to the overall market environment.

The Supreme People's Court calls on courts nationwide to improve the efficiency and quality of handling financial fraud cases. By prioritizing these efforts, the judiciary aims to protect investors' legitimate interests and safeguard the healthy development of China's capital market.