CSRC head vows to get tough on financial crimes

Penalties for fraud will increase, whistle-blower rewards will also rise

China's top securities regulator vowed on Thursday to strengthen law enforcement as part of the move to reform the nation's scandal-ridden capital markets.

In an article published in the Party-run Qiushi Journal, Xiao Gang, head of the China Securities Regulatory Commission, vowed to establish a "proactive" legislation and law enforcement system that better reflects rapid changes in the capital markets.