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September, 53 people in the company were transferred for examination and prosecution.u’an, a county in
China’s Hebei province, 50 kilometers away from Beijing’s Tiananmen Square, is looking to build an innovation-driven coun
Emerging fields including online lending, investment, pension services, consumer reb
ates, financial mutual aid and virtual currencies have become “disaster areas” for economic crimes, said Gao.
Since the collapse of P2P online lending platforms beginning last Jun
e, public security authorities have investigated and handled more than 400 illegal fun
draising platforms and arrested more than 60 fugitives from 16 countries and regions.
“To grab excessive profits, the criminals keep changing and upgrading their criminal
methods, which are usually strongly deceptive,” he said. “Investors should be very cautious.”
After a disappointing performance in 2018, China’s economy appears to be stabiliz
ing. In the first quarter of 2019, GDP growth, at 6.4 percent year-on-year, matched that of the previous quarter. But grow
th in industrial production exceeded expectations, expanding by 6.5 percent year-on-year (and by 8.5 percent in Mar
ch). Even exports growth was positive, albeit weak, despite the ongoing trade frictions with the United States.
Moreover, fixed-asset investment (FAI) grew by 6.3 percent－0.2 percentage points higher than in the previous quar
ter. Investment in real estate grew the fastest (11.8 percent), followed by manufacturing (4.6 percent) and in
frastructure (4.4 percent). The growth of investment both in real estate and infrastru
cture was stronger not only sequentially, but also year-on-year. As usual, consumption growth was stable.