The Regulation of Securities Markets in China by He Weiping

Author:He Weiping
Language: eng
Format: epub
Publisher: Palgrave Macmillan US, New York

5.4.2 Data and Analysis

This section discusses the level of enforcement of insider trading provisions in practice and the public perception of this. The key question here is how to quantify or qualify the level of enforcement actions in China. To answer this question, we look at three sets of data: a compilation of the insider trading cases, the Survey results, and the interview results.

The insider trading cases discussed are those in the period 2010–16 when an administrative penalty was imposed by the CSRC . For the purpose of the analysis, each party that was subject to an administrative penalty was considered as an individual case, albeit that sometimes multiple parties were involved in a single CSRC Administrative Penalty Decision . Table 5.1 shows the number of administrative penalties in each of the years together with the growth of the markets in terms of the size of market capitalization and the number of listed companies. Table 5.2 gives the penalties levied, broken down to show the charges on individual parties. Further analysis of the severity of the penalties (fines) the CSRC imposed in each case is shown in Table 5.3.Table 5.1Market capitalization, number of listed companies, and number of cases prosecuted

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