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Chinese premier signs decree unveiling rule against illegal fundraising Xinhua | Updated: 2021-02-10 22:32 Share CLOSE
BEIJING Premier Li Keqiang has signed a State Council decree unveiling a regulation on preventing and handling illegal fundraising amid efforts to promote healthy economic development and maintain social stability.
The new regulation will strengthen oversight in key areas. It will also prevent and defuse risks and protect the legitimate rights and interests of the people.
It will come into effect on May 1.
A State Council executive meeting on Dec 21, 2020 adopted the draft regulation. It stipulates the administrative and criminal responsibilities for illegal fundraising, the return of funds, and the consequences participants should bear.