Home » Did Xi Jinping make the wrong move? “Brokerage killer” rescues the market with an iron fist and exposes the shady story of the securities industry | Chinese stock market | Fall | Xi Jinping | Save the stock market | Brokerage killer | Wu Qing | Huge fines | Corruption | Chaos | Chairman of the China Securities Regulatory Commission | .Ningbo Lingjun

Did Xi Jinping make the wrong move? “Brokerage killer” rescues the market with an iron fist and exposes the shady story of the securities industry | Chinese stock market | Fall | Xi Jinping | Save the stock market | Brokerage killer | Wu Qing | Huge fines | Corruption | Chaos | Chairman of the China Securities Regulatory Commission | .Ningbo Lingjun

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Did Xi Jinping make the wrong move? “Brokerage killer” rescues the market with an iron fist and exposes the shady story of the securities industry | Chinese stock market | Fall | Xi Jinping | Save the stock market | Brokerage killer | Wu Qing | Huge fines | Corruption | Chaos | Chairman of the China Securities Regulatory Commission | .Ningbo Lingjun

**China Takes Steps to Save Falling Stock Market**

China’s stock market has been facing a downturn for the past three years, prompting the Chinese Communist Party authorities to take action to restore investor confidence. In a recent interview and report by our reporter Wang Xiao, it was revealed that a series of measures have been implemented to save the stock market.

One of the major actions taken was the dismissal of Yi Huiman, the former chairman and secretary of the China Securities Regulatory Commission, and his replacement with Wu Qing, known as the “brokerage killer” due to his background as the secretary of the Shanghai Municipal and Legal Committee of the Communist Party of China.

Wu Qing, who took office on February 7, wasted no time in issuing substantial fines to multiple units and individuals. For example, Shanghai Silxin Technology was fined more than 12 million yuan for providing false materials during its application for listing in Shanghai, and 63 securities practitioners were collectively fined more than 80 million yuan for illegal stock trading.

Furthermore, the China Securities Regulatory Commission organized inspections and law enforcement efforts to investigate and address illegal activities in the securities industry.

To further discuss the situation and gather input from market participants, including institutional and retail investors, foreign institutions, and private equity companies, the China Securities Regulatory Commission held a two-day symposium where Wu Qing sought to solicit policy suggestions.

However, Xie Tian, a professor at the Aiken School of Business at the University of South Carolina, voiced concerns about the effectiveness of these measures. He noted that while the intention behind the actions was to restore market confidence, they may actually have the opposite effect by exposing the deep-seated corruption within the Chinese securities industry.

See also  After the 20th National Congress of the Communist Party of China, Xi Jinping immediately hit the Politburo infighting trends to attract attention | 20th National Congress of the Communist Party of China | Xi Jinping | Hu Jintao

The situation was further complicated by the actions of Zhejiang Ningbo Lingjun Investment Management, one of the “Four Kings” in China’s program trading private equity fund industry, which triggered abnormal trading by selling a large amount of stocks within minutes.

The company has since stated that it will comply with trading restriction measures imposed by the Shanghai and Shenzhen Stock Exchanges, without addressing concerns about the impact of its actions on market stability.

Xie Tian also pointed out that the Chinese stock market is facing challenges due to the country’s economic struggles, deflation, slowing exports, and weak consumer confidence. He believes that the market will continue to decline as a result of these underlying issues.

As the situation in the Chinese stock market unfolds, it is evident that the authorities’ efforts to save the market are facing significant obstacles, raising questions about the future stability of the market and the impact on investors.

**Voice of Hope Calls for Support to End CCP Deception**

In light of the challenges facing China, Voice of Hope encourages efforts to combat the deception employed by the Chinese Communist Party. By broadcasting the truth and injecting hope into China, Voice of Hope aims to counter the pervasive deception and ultimately advocate for an end to the CCP’s rule.

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