He Yanchun, Securities Supervision Commission: New Features Emerge in Manipulation Cases Demagogic Manipulation of "Making Up Themes and Telling Stories" Has Increased

February 21 news, on February 21, He Yanchun, director of the Office of the Administrative Punishment Commission of the Securities Supervision Commission, said at the press conference "Strictly crack down on securities violations and crimes in accordance with the law and promote the healthy and stable development of capital markets" that manipulation cases have shown some new characteristics, including the evolution from traditional "sitting house" manipulation using capital advantages to short-term manipulation based on specific time periods and key points; the use of capital allocation funds or asset management products to implement "leverage" and "gang-type" manipulation of hot money group speculation has increased; the "insider" organization of listed companies has participated in the "pseudo-market value management" information-type manipulation and "making up themes and telling stories" demagogic manipulation has increased; the use of complex financial products and new trading technologies This brings new challenges to the identification, investigation and punishment of market manipulation.