Chinese securities regulator imposed $1.2 billion fines for financial violations

Beijing. May 31. Silkroadnews - The Chinese securities regulator continues to struggle with violations in the capital market, raising the financial market openness, Xinhua reports.
The China Securities Regulatory Commission (CSRC) handed out administrative penalties of 7.71 billion yuan (around 1.2 billion U.S. dollars) last year and in the first quarter of this year, said Yan Qingmin, vice chairman of the CSRC, the agency wrote.
The fines concerned 294 cases, including insider trading and price manipulation, with 47 individuals banned from trading in securities.
According to Yan, China has increased daily quotas on the Shanghai and Shenzhen Hong Kong stock exchanges since May 1, 2018, and Chinese stocks have been included in the MSCI China Index and the MSCI Emerging Markets index.
The scale and quality of direct financing improved: IPO and refinancing amounted to 2 trillion yuan from January 2017 by the end of the first quarter of this year, and the volume of bonds issued on exchanges reached 4.5 trillion yuan for the same period.