China said Sunday it would begin imposing harsh punishments [Reuters report] on those involved with illegal financing activities, with a particular focus on underground banking and the stock market, following a string of scandals. In particular, the state news agency released statements that the government would start to “put the prevention of financial risk in an even more important position,” through severely punishing “the illegal collection of public deposits, fraudulent fund-raising and other economic crimes involving the public,” in addition to cracking down on money-laundering, underground banks and online pyramid schemes. The news release also said an emphasis on curbing and punishing securities and real estate market crimes. The report did not say anything about the actual punishments that will be dealt, however, China has been criticized by the international human rights community in recent years for their handling of punishment.

Earlier this month a former Chinese senior energy official who had hoarded 200 million yuan ($29.99 million) was given a suspended death sentence [JURIST report] after being convicted of corruption. In August Chinese authorities released a prominent human rights lawyer from detention. Wang Yu was released on bail after confessing to “subverting state power” [JURIST report]. In July China was set to prosecute [JURIST report] a prominent human rights lawyer on charges of subverting state power. In September Amnesty International urged [JURIST report] Chinese authorities to “end their ruthless assault against human rights lawyers and activists.” In June a report claimed that China continues to harvest organs [JURIST report] from prisoners and those opposed to the Chinese Communist Party.