CPPCC Member Chen Ruoxing Proposed Improving Legislation to Curb Illegal Financing in Society

Shaanxi Provincial CPPCC member Chen Ruoxing

People's Network Xi'an in January 26 (Wu Chao Zhang Wei): in the two sessions in Shaanxi Province in 2016, CPPCC members Chen Ruoxing told reporter: "I have to raise this proposal on the regulation of illegal financing. This led to take away hard-earned money accumulated for years instantly. "

Chen Ruoxing believed that illegal fund-raising is illegal financial activities, conducted under the inducement of high returns, dressed in a legal coat, with the name of the national policy or the corporate innovation and other flagship, or by luring friends and family and other people, by cheating the trust of the majority of participants, to gather huge amounts of money as the fundamental purpose.

"I suggest that the relevant departments should accurately identify the illegal fund-raising. Clearly define the boundaries of illegal fund-raising, high interest loans, underground banks and private lending, clearly point out the direction for people's investment, which in turn will provide a solid legal protection to fight against illegal fund-raising. Only that we define it accurately will people be able to avoid being deceived from the understanding. Formulate the relevant legislation and improve the relevant laws and regulations to protect the living environment of the legitimate finance. At the same time, crack down on illegal fund-raising behavior; in strict accordance with the law to punish the illegal fund-raising organization, sponsors, planners behind the scenes and many participants who cause serious harm; severely punish those related public officials involving in illegal fund-raising. And through in-depth analysis and extensive publicity, eliminate illegal criminals to avoid the fluky psychology of legal sanctions, to prevent illegal fund-raising, high interest rates from continuing to spread." Chen Ruoxing told reporters about her brief ideas on the issue of illegal fund-raising.

"The state should carry out the financial system reform as soon as possible, broaden the national bank's financial business, improve business efficiency, and effectively improve the service for the enterprise fund-raising, which are not only the basic measures to improve the financial economy, but also an effective measure to prevent illegal fund-raising shortcuts." CPPCC member Chen Ruoxing suggested.

In addition, Chen Ruoxing frankly, strengthen the publicity of cases & the public awareness on the legal system and financial knowledge, with vivid cases to educate the masses, with legal thinking to remind the masses, so as to effectively improve people's awareness of investment protection and intellectual investment, and then prevent illegal fund-raising fundamentally.

During the interview, Chen Ruoxing listed her own detailed measures one by one. "I would like to make some suggestions as many as possible so that the relevant functional departments can introduce measures as soon as possible, so as not to allow more people to be affected. Generally illegal fund-raising activities are very secret, and many of them have collapsed, but people have no idea and still are fooled by the illegal fund-raising to transfer or spend money, with impunity. If the rigorous network investigation system is established, high alert various types of financing behavior and financial trends in the regions, carry out risk assessment and investigation from time to time, investigate and ban those illegal underground financial activities of enterprises and intermediaries timely, so as to detect the hidden problems timely and control and avoid greater losses in a timely manner."