China vows strong punishments for illegal financing activities

China will severely punish people involved in illegal financing activities, especially targeting underground banks and the stock market, after a series of scandals, state news agency Xinhua said on Sunday, citing the state prosecutor. "Conscientiously follow the demands of the central government, put the prevention of financial risk in an even more important position," Xinhua said. "Severely punish the illegal collection of public deposits, fraudulent fund-raising and other economic crimes invol