China has launched a nationwide campaign to crack down on illegal fundraising activities in universities as students returned to campus to start a new school year.

 

随着大学生重返校园开始新学年，中国政府发起一项全国性的校园内打击非法集资活动。

 

"Any people or organizations are banned from promoting illegal fundraising activities in any form on campus," said the Ministry¹ of Education in a circular.

 

Higher education institutions are required to take measures to raise the faculty² and student awareness³ of fundraising risks and develop rational concepts of financial management, said the circular.

 

Regular checks on activities will be conducted to prevent illegal fundraisers, including checks of flyers handed out on campus and the use of social media networks such as WeChat and Weibo to spread relative information, it added.

 

China has taken a harsh stance toward "illegal fundraising" -- a term used to describe taking deposits from the public by people without licenses⁴ to do so -- by mapping out regulations and strengthening supervision⁵ on financial markets since the 1990s.

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