Beijing police crackdown on economic crime

Beijing police have intensified efforts to clamp down on economic crime and brought nearly 1,000 suspects to justice in the first four months of this year.

Between January and April, more than 1,100 such crimes were detected and around 960 suspects were detained, Beijing Municipal Public Security Bureau said on Thursday.

These crimes ranged from producing and selling counterfeit branded commodities to illegal fundraising among the public.

Jia Lei, an officer at the bureau's investigation department, said in a single case in Xicheng district, 20,000 reproduction branded clothes were seized worth more than 1 million yuan ($154,000).

In another case in Daxing district, knockoff lubricants worth 150,000 yuan were seized on April 30.

Jia said in the first four months of the year, the number of illegal fundraising cases that involved economic fraud was on the rise.

"Some companies forged documents and made up investment stories to rip off the public of millions of yuan," He said, adding that "people must be on high alert for online financial programs".

All of the sham companies involved claimed that the rate of return could be more than ten percent, while some claimed up to 100 percent, Jia said, adding that people should report suspicious financial practices to the financial supervisory body.