China sees fewer financial fraud cases

BEIJING -- China has witnessed a steady drop of financial fraud cases over the past three years, according to the country's top court.

The number of cases dropped by more than 20 percent every year between 2016 and 2018, the Supreme People's Court noted, citing a recent report by the China Justice Big Data Institution.

Nearly 80 percent of the cases involved credit card fraud, according to the report. But a rising trend of fraudulent capital-raising has also been detected.

Most financial fraud cases were reported in the eastern region. However, cases in the central and western regions are on the rise.