China public security ministry targets illegal market activity

China public security ministry targets illegal market activity
PHOTO: AFP

BEIJING - China's public security ministry said it will crack down on illegal activity in equities and futures markets following what it called "abnormal volatility"on the country's exchanges.

The ministry will focus on tackling insider trading, leaking of confidential information, malicious short-selling of shares and stock futures, the spreading of rumours and market manipulation, it said in a statement on its website on Thursday.

The ministry said it is working closely with China's securities regulator.

State media reported earlier that police and China Securities Regulatory Commission were investigating more than 10 individuals and organisations for malicious short-selling of shares.

State news agency Xinhua said earlier that police would investigate clues pointing to potentially malicious short-selling amid a sharp slide in Chinese stock markets, which have plunged by nearly a third in the past month.

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