Chinese police handled more than 110,000 economic crimes in 2010

10:22, April 03, 2011      

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Chinese police handled more than 110,000 economic crime cases last year, according to official figures released on Saturday.

More than 90,000 of the cases were closed, according to a conference on economic crime which was attended by officials from government departments including the ministries of public security, supervision and commerce as well as the People's Bank of China. The cost of the illegal activity was estimated to be more than 400 billion yuan (60.6 billion U.S. dollars), according to the figures.

Economic crime has been on the rise in recent years, especially cases relating to finance, taxation and intellectual property right (IPR) infringement, according to the conference.

Official statistics show that police handled 5,442 IPR infringement cases worth 4.5 billion yuan, destroyed 2,546 counterfeit production centers and uncovered 2,205 bank fraud cases worth 830 million yuan since January of this year.

Source: Xinhua

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