CSRC to beef up mar­ket over­sight

China Daily (Hong Kong) - - BUSINESS -

China will strengthen over­sight on the se­cu­ri­ties mar­ket to keep it fair, open and im­par­tial, a se­nior of­fi­cial said on Wed­nes­day. Jiang Yang, vice-chair­man of the China Se­cu­ri­ties Reg­u­la­tory Com­mis­sion, made the re­marks while re­spond­ing to ques­tions about pri­or­i­ties in the next phase of the watch­dog’s work. “The reg­u­la­tor will con­tinue to crack down on vi­o­la­tions of se­cu­ri­ties laws and reg­u­la­tions, in­clud­ing in­sider trad­ing and mar­ket ma­nip­u­la­tion,” Jiang said. So far this year, the CSRC has im­posed ad­min­is­tra­tive penal­ties on 113 cases and is­sued to­tal fines of 6.4 bil­lion yuan ($943 mil­lion), which is 1.5 times last year’s to­tal. Mean­while, the CSRC has pro­hib­ited 30 peo­ple from en­ter­ing the mar­ket, al­most equiv­a­lent to the to­tal num­ber in 2016, Jiang said.

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