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China Cracks Over 300,000 Cases of Economic Crimes in First Half Year
China's Administration for Industry and Commerce tackled a total of 319,000 cases of violation of economic laws and regulations in the first half of this year, up more than 30 percent over the same period last year, involving a lump sum of about 4.89 billion yuan.
Sources say that among the above-said cases, cases of illegitimate competitions increased by 46 percent with the value almost doubled.
The Administration also prosecuted 1879 smuggling cases with the case value approaching 640 million yuan and fines imposed 110 million yuan. The number declined from the same period last year. According to analysis, among the perpectrators of the economic crimes in the first six months, the number of crimes committed by joint-stock companies and foreign-funded enterprises dropped while the number of those by joint ventures surged by the largest margin.
Besides, the administrations for industry and commerce handled more than 190,000 complaint cases reported by the consumers, among which 88 percent were finally settled with 534 million yuan of economic losses retrieved.
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