China proposed to significantly increase fines on those involved in financial frauds

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China proposed to significantly increase the fines for financial fraud, according to the draft reviewed by the Standing Committee of China's National People's Congress, the country’s top legislative body.

Businesses with over 200,000 yuan ($27,600) in illicit gains will be fined an amount equal to 100% - 1,000% of the total illegal gains and businesses with less than 200,000 yuan in illicit gains will be fined between 200,000 - 2 million yuan, according to . . .

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