IN BRIEF (Page 4)

Beijing

Police crack down on illegal banks

Police have launched a nationwide campaign against underground banks to maintain order in the financial and capital market, authorities said on Monday. Meng Qingfeng, vice-minister of public security, urged all the police to fully understand the harm of underground banks to national economic security and the order of financial market. A similar campaign was launched in April by the Ministry of Public Security, the central bank and the State Administration of Foreign Exchange to stop transfers of illicit money through offshore companies and underground banks.