China vows to ramp up crackdown on private equity fund crimes

BEIJING, Dec. 26 (Xinhua) -- Chinese judiciary authorities have consistently implemented measures to address crimes related to private equity funds, resulting in 2,085 suspects being brought to trial since 2021, the Supreme People's Procuratorate said Tuesday.

Meanwhile, 1,888 individuals had been sentenced for such crimes between 2021 and October 2023, according to the country's Supreme People's Court.

On Tuesday, the top procuratorate and the top court also released five typical criminal cases involving private equity funds, which include illegal fundraising and embezzlement.

The authorities pledged an even tougher stance toward such crimes, noting that they will work with security regulators and public security authorities to intensify the crackdown.