Procuratorial organs nationwide prosecuted 191 individuals for financial fraud crimes from 2024 to November 2025, including 102 prosecutions from January to November 2025, a year-on-year increase of 21 percent, according to a recent report from the Supreme People's Procuratorate.

For financial fraud cases transferred by the China Securities Regulatory Commission to the Ministry of Public Security, the SPP assigned the cases to local procuratorial organs in parallel, provided follow-up guidance and supervised 43 major cases. High-profile cases involving Jinzhou Port Co and Jintongling Technology Group were publicly prosecuted in accordance with the law, creating a strong deterrent against financial fraud.

According to procuratorial charges, Jintongling systematically inflated or understated financial data from 2017 to 2022 through forged project progress confirmations and premature revenue recognition. In December 2025, the Intermediate People's Court of Nanjing, Jiangsu province, issued an interim first-instance judgment in a securities misrepresentation liability dispute, ordering the company to compensate 43,300 investors nearly 775 million yuan.

On Jan 5, officials from 12 departments, including the CSRC, the Supreme People's Court, the SPP and the National Development and Reform Commission, held an interdepartmental seminar on building a comprehensive punishment and prevention system for capital market financial fraud. Participants reviewed and advanced key initiatives to strengthen enforcement and prevention efforts.

Since July 5, 2024, when the General Office of the State Council circulated opinions on further punishing and preventing capital market financial fraud — jointly issued by the CSRC and other authorities — an integrated accountability system has been continuously refined, according to the SPP. The framework emphasizes closer coordination among administrative enforcement, criminal punishment, civil compensation and credibility constraints, and aims to strengthen long-term deterrence and prevention mechanisms.

Under this framework, the SPP, the Ministry of Public Security and the CSRC issued guidance clarifying standards for handling financial fraud cases and improving coordination between administrative law enforcement and criminal justice procedures. In addition, the SPP and the CSRC launched joint, case-based training programs to enhance professional capacity in handling such cases.