Zhou Qiang, president of the Supreme People's Court (SPC), vowed on Oct 23 to defuse financial risks and to severely crack down on such economic crimes as illegal fundraising, pyramid selling, insider trading and market manipulation.

Zhou said that when reporting to the Standing Committee of the National People's Congress on the progress made in conducting criminal trials since 2014.

The SPC reports that since 2014, Chinese courts have concluded 109,000 cases related to the disruption of financial regulatory order and financial fraud, of which 210 were insider trading and other securities and futures-related crimes and 2,657 were related to money laundering and counterfeit bank notes.

Meanwhile, Chinese courts also strengthened their judicial protection for intellectual property by concluding 24,000 IP-related cased over the past five years.

When it comes to tax-related crimes, 27,000 cases have been concluded nationwide since 2014.

Zhou also promised to protect the safety of children, women and schools and to severely punish those who disrupt the public transport system, commit telecom and internet fraud or infringe upon citizens’ personal information illegally.

Judicial protection of property rights will also be strengthened in favor of the legitimate rights and interests of enterprises and entrepreneurs, according to Zhou.