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罪刑法定(zuìxíng fǎdìng): Legally prescribed punishment for a crime

China Daily | Updated: 2018-12-19 07:26

According to an article published in Procuratorate Daily, the official newspaper of the Supreme People's Procuratorate, procuratorial organs at various levels are required to distinguish between financial innovation and financial crime, and stick to the principle of the legally prescribed punishment for a crime when dealing with financial cases.

As one of the basic principles of criminal law in our country, the principle of nulla poena sine legea, no punishment without a law, lets citizens know what is legally permissible behavior and what is not. The procuratorial organs at all levels strictly adhere to this principle, help prevent the abuse of judicial power in the financial field, and help clarify the boundaries between financial innovation and financial crimes.

With the rapid development of internet finance nowadays, there have been many cases related to the internet financial services that have sparked controversy on whether the judgment and punishment are appropriate. These disputes undermine judicial fairness and negatively affect the national economy, which should be corrected in time.

Procuratorial organs are required to further crack down on financial crime, but they are also reminded to treat the new situations and new problems in the financial field with caution. Procuratorial organs should both fight against crime and protect innovation according to the law, in order to avoid impeding financial innovation.

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