China Uncovers 244,000 Cases of Economic Crimes In First Half

China cracked down on 244,000 cases of economic crimes during the first half of this year, up 28. 6 percent over the same period last year, said a report by the State Administration for Industry and Commerce.

The money involved in the cases amounted to 3.68 billion yuan ( 443 million US dollars). The administration levied over 700 million yuan in confiscation and fines. Both figures mark increases of over 30 percent, said the report.

The report said that 42,000 cases involve manufacturing and selling of fake and shoddy commodities, which include rolled steel, cars, finished oil, chemicals, cigarettes and grain seeds.
Meanwhile, nearly 6,000 cases are related to unfair competition, with acts of using other companies' names and brands, constituting violations of intellectual property rights.