Systemic Risks and State Council

illegal fund-raising: Related agencies and local governments should pay high attention and strengthen their efforts to crack down on illegal fund-raising in a bid to protect people interests and fend off systemic risks, according to the document, according to Xinhua China. A long-term prevention mechanism should be established, the document said. It is an important guarantee for economic stability and social harmony to prevent the happening of such cases and properly deal with the aftermath, said the document released by the State Council, China cabinet, on Thursday. The document was released to the public after police found online P2P broker Ezubao cheated about 900,000 investors out of more than 50 billion yuan by fake investment projects. Ezubao is not an isolated case in China. An executive from the parent company has admitted it was nothing but a Ponzi scheme. (news.financializer.com). As reported in the news.