In this undated photo, a pedestrian stands next to the China Securities Regulatory Commission office building in Beijing, China. (PHOTO / PROVIDED TO CHINA DAILY)
BEIJING – China's securities watchdog toughened punishment on illegal market activities last year amid strengthened supervision, with total fines and administrative penalties reaching a three-year high.
Total 10.641 billion yuan (US$1.59 billion) of fines and confiscations were ordered by the China Securities Regulatory Commission (CSRC) in 2018, up 42.28 percent year on year, Yan Qingmin, vice chairman of the CSRC, said at a meeting.
The regulator handed out a combined 310 administrative penalties last year, up 38.39 percent, according to Yan.
The regulator has vowed to continue its tough stance against all violations to better serve the real economy.
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