▌The Supreme People’s Procuratorate (SPP) held its 42nd opening day and called for the equal protection of market players, and the creation of a properly regulated business environment. It also issued a guideline on punishing and preventing company insiders from infringing on the rights and interests of private companies.
▌The guideline is an important measure for implementing central government policies to promote the development and growth of the private economy, actively respond to the concerns of entrepreneurs, and protect the legitimate rights and interests of private companies.
▌The SPP’s guideline tasks prosecutors with suggesting harsher punishments for private company employees involved in embezzlement, bribery and other forms of corruption. Prosecutors should apply a recovery mechanism for the property involved in the case to minimize losses to the company. Prosecutors should also encourage governance of corruption at the source to both punish and prevent insider crimes, including the abuse of position to engage in acts such as operating parallel companies to the ones they work for, and the unauthorized sale of company assets.
