China targets crime related to internet finance

BEIJING — Chinese courts have turned their attention towards internet finance crime to safeguard the healthy development of the sector.

Pressure must be placed on fighting illegal fund-raising cases, which are key to controlling financial risks, according to a guideline issued by the Supreme People's Court Thursday.

In handling such cases, courts should coordinate with local authorities to protect the interests of victims, the guideline stated.

It highlighted cases involving the illegal taking of deposits from the public or fraudulently raising funds under the guise of financial innovation.

The guideline also provided instructions on handling civil lawsuits concerning financial disputes.

Over 16,400 people were prosecuted for various financial crimes in 2016.