China Doubles Prison Terms for Stock Manipulators to 10 Years – Bloomberg

From News:

China’s doubled the maximum length of imprisonment for securities manipulators to 10 years, a move that may help boost ’ confidence in the nation’s stock markets as state companies including Air China Ltd. prepare to sell local-currency A shares for the first time.

In addition, a law enabling jail terms of up to seven years for corrupt senior managers of state-controlled enterprises was extended to include all listed companies, according to the central government’s site.

Mismanagement, and stock-manipulation contributed to a slump in Chinese that caused the Shanghai Composite Index to more than halve in the four years through July last year. The index, having rebounded 66 percent from its July 7 low, is still 25 percent below its 2001 peak.

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