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China Securities Regulatory Commission (CSRC) Takes Action to Strengthen Market Supervision

Beijing, February 23, 2024, The Europe Today: China Securities Regulatory Commission (CSRC) announced on Thursday its commitment to guiding major stock exchanges in the country to enhance their supervision standards for abnormal transactions. The CSRC specifically named the Shanghai Stock Exchange, the Shenzhen Stock Exchange, and the China Financial Futures Exchange in this initiative.

The CSRC emphasized its dedication to cracking down on illegal activities such as market manipulation and insider trading, aligning these efforts with existing laws and regulations. In a formal statement posted on its website, the CSRC clarified that these measures were designed to uphold the normal trading order in the market.

The regulatory body stressed that it does not interfere with routine market transactions, highlighting its commitment to safeguarding investors’ rights to fair and free transactions within the framework of the law. However, the CSRC made it clear that it would decisively address and combat any illegal activities that disrupt the orderly conduct of market trading.

The statement from the CSRC comes in the wake of recent actions taken by the Shanghai and Shenzhen stock exchanges against an institution engaging in abnormal trading behavior. The CSRC commended these exchanges for fulfilling their trading supervision responsibilities and underscored that such measures were not aimed at restricting share selling but rather at curbing disruptive activities.

Specifically, on February 19, the Shanghai and Shenzhen stock exchanges issued separate statements identifying Lingjun Investment, a major quant fund, as an entity that had disrupted orderly market trading. Penalties were imposed on Lingjun Investment, including open censure and a three-day restriction on trading.

The CSRC’s latest directive underscores the Chinese authorities’ ongoing commitment to maintaining a fair, transparent, and well-regulated financial market environment, signaling their resolve to address any irregularities that may undermine the stability of the markets.