Prosecutions for money laundering increase

A total of 1,262 people were prosecuted for money laundering last year, up 78.5 percent year- on-year, according to the annual work report of the Supreme People's Procuratorate.

The report was delivered by procurator-general Zhang Jun to the ongoing fifth session of the 13th National People's Congress on Tuesday.

It said the SPP worked with the People's Bank of China to issue guidance about money laundering. Procuratorates also recommended harsher punishment for people involved in related crimes within the scope of law.

Additionally, the SPP worked with the Ministry of Public Security and the China Securities Regulatory Commission to fight securities crimes and promote the regulation of the capital market. Last year, 43,000 people were prosecuted for committing financial fraud and undermining the order of financial management, 3.3 percent more than in 2020, the report said.