Latest News:  
Beijing   Sleet/Overcast    3 / -2   City Forecast

People's Daily Online>>China Society

138 detained in illegal fundraising crackdown in E China


15:44, February 29, 2012

JINAN, Feb. 29 (Xinhua) -- Police in east China's Shandong Province said Wednesday that they have detained 138 suspects for illegal fundraising as part of a crackdown on the practice.

Police have opened 87 cases concerning illicit fundraising since the crackdown started in November. A total of 3.3 billion yuan (524 million U.S. dollars) was involved in the cases, according to a Wednesday press conference held by the provincial police department.

Police have already cracked 51 of the cases, arresting 138 people, said Zhu Chenxi, an official with the department's criminal investigation team, at the news briefing.

China has been cracking down on illegal fundraising, a practice that has boomed in recent years due to the difficulties small businesses have in obtaining loans.

Starting March 1, the Ministry of Public Security will launch a nationwide campaign to crack down on economic crimes. The crackdown will last through August.

Earlier this month, police in the eastern province of Zhejiang, the cradle of China's private enterprises, detained the head of an education group, as his firm owed a whopping 4.5 billion yuan to over 7,000 private creditors.

Also in Zhejiang, a court in January upheld a death sentence for Wu Ying, a once-wealthy businesswoman who was convicted of fundraising-related fraud.


Leave your comment1 comments

  1. Name

Puzzled at 2012-02-2931.172.30.*
One qustion : Why is the interest on fixed deposits negative? This is most unusual. Tell me if I am wrong.

Selections for you

  1. Heavy drought hits Fumin county in Kunming

  2. Chinese architect wins 2012 Pritzker Architecture Prize

  3. Opera Group performs in Buenos Aires

  4. Performance held to celebrate Tibetan New Year

Most Popular


  1. West's pressure no sway on China's defense budget
  2. Manila returns to usual games of cat and mouse
  3. How should China cope with US return to Asia?
  4. China-US relations have become irreversible
  5. Safe food not just for champions and govt officials
  6. Questions facing NATO's strategic transformation
  7. US, DPRK talks offer window into new leadership
  8. Chinese people's feelings cannot be hurt
  9. US far from being model of social wealth distribution
  10. China will run short of 25 kinds of minerals by 2020

What's happening in China

Netizens rally to aid of captive seals

  1. China offers detailed definition on illegal lotteries
  2. Nagasaki-Shanghai ferry service launched
  3. Hearing ends without ruling over iPad name
  4. City bases smart success on legacy
  5. Companies to check every package mailed

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai