As China further strengthens its anti money-laundering regulations, authorities have committed to increasing coordination among themselves as they go after underground banks that are conducting illegal operations.
This move is in line with the Chinese government's efforts to maintain financial order and security, reported China Daily.
The initiative is now bearing fruit as police in the northeastern city of Qitaihe, Heilongjiang province, have uncovered an underground banking network that has funneled billions of yuans into illicit transactions.
The banks under investigation include the Bank of China, the Agricultural Bank of China and the China Construction Bank
