Prosecutors, financial regulators and legal professionals in Beijing have pledged to strengthen the prevention of systemic financial risks, making every effort to jointly build a clear, secure and trustworthy financial ecosystem.

The pledge was outlined in a joint initiative issued by the Beijing People's Procuratorate, the National Financial Regulatory Administration's Beijing Office and the China University of Political Science and Law during the Annual Conference of?the Financial?Street?Forum?2025, which was held from Monday to Thursday.

The initiative responds to the evolving threats posed by black and grey industries in the financial sector, which have grown increasingly chain-like, cross-regional, large-scale and covert, according to the three institutions.

They emphasized the need to form a united front to combat the black and grey industries, saying the crackdown is crucial for financial security, public well-being and social stability and will help forge a collaborative governance force to safeguard financial integrity and promote the healthy development of the system.

Under the initiative, the authorities will increase information sharing and achieve end-to-end cooperation in risk warnings, quick response and precise strikes, thereby enhancing governance.

They agree to improve the risk monitoring mechanisms, as well as to analyze risk clues regularly, organize campaigns and address challenges in case handling together, according to the initiatives.

In addition, they will establish a regular interaction mechanism to focus more on legal research regarding new financial issues, with strong financial education and easy channels for reporting to the public.