China securities authority cracks down on market violations
Chinese securities regulator has been continuing to crack down on capital market violations including insider trading and price manipulation.
The China Securities Regulatory Commission said in an online statement that it handed out administrative penalties of 7.57 billion yuan (around US$1.2 billion) in 2017, up 80 percent from a year ago.
The fines were handed out over 237 cases, with 59 percent related to information disclosure problems and insider trading.
Punishments were stricter, with 44 people banned from securities trading last year, up 16 percent from 2016 and 120 percent from 2015. The figure was said to be the highest in recent years.
The CSRC also stepped up supervision of the new third board favored by startups and of intermediaries.
China has channeled more energy into ensuring financial stability and preventing systemic risks. Defusing major risks has been identified as one of the "three tough battles" that China must win, along with poverty alleviation and pollution control.