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Central Bank, Public Security Ministry Join to Fight Financial Crimes

The headquarters building of the Ministry of Public Security in central Beijing. Photo: VCG
The headquarters building of the Ministry of Public Security in central Beijing. Photo: VCG

China’s financial regulator will work closely with law enforcement departments to crack down on irregularities in internet finance, underground banks and illegal foreign exchange trading, the central bank said Monday in a statement.

The People’s Bank of China will join forces with the Ministry of Public Security by sharing information, enhancing collaboration, toughening punishments and strengthening public education, according to the statement. The statement followed a meeting between a team from the monetary authority led by Vice Governor Pan Gongsheng and Meng Qingfeng, vice public security minister.

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