2024/9/2 凌晨12:25 Criminal Law of the People's Republic of China 3 years or short-term custody, and concurrently, a fine of not less than RMB 10,000 yuan but not more than RMB 100,000 yuan, or shall be sentenced to a fine on the said scale only. Where the amount involved is large, the offender shall be sentenced to fixed-term imprisonment of not less than 3 years but not more than 10 years, with a fine of not less than RMB 20,000 yuan but not more than RMB 200,000 yuan. An entity committing a crime as prescribed in the preceding two paragraphs shall be fined, and the directly responsible persons in charge and other directly responsible persons shall be punished in accordance with the provisions in the preceding two paragraphs. Article 179 Whoever, without approval from the competent departments of the state, issues shares, enterprise bonds, or corporate bonds, where the amount involved is large, the consequences are serious, or there are other serious circumstances, shall be sentenced to fixed-term imprisonment of not more than 5 years or short-term custody, and concurrently, a fine of not less than 1 percent but not more than 5 percent of the illegally raised funds, or shall be sentenced to a fine on the said scale only. An entity committing a crime as prescribed in the preceding paragraph shall be fined, and the directly responsible persons in charge and other directly responsible persons shall be sentenced to fixed-term imprisonment of not more than 5 years or short-term custody. Article 180 Where an insider who holds inside information on securities or futures transactions or a person who illegally obtains such information, prior to the release of the information related to the issuance of securities, transactions of securities or futures, or other information that has a significant impact on the transaction prices of the securities or futures, buys or sells such securities, engages in the futures transaction related to the inside information, leaks such information, or explicitly or implicitly advises others to engage in the aforesaid transaction activities, the insider or this person shall, where the circumstances are serious, be sentenced to fixed-term imprisonment of not more than 5 years or short-term custody, and, concurrently, a fine of not less than the amount of but not more than five times the illegal gains, or shall be sentenced to a fine on the said scale only. Where the circumstances are especially serious, the offender shall be sentenced to fixed-term imprisonment of not less than 5 years but not more than 10 years, with a fine of not less than the amount of but not more than five times the illegal gains. An entity committing a crime as prescribed in the preceding paragraph shall be fined, and the directly responsible persons in charge and other directly responsible persons shall be sentenced to fixed-term imprisonment of not more than 5 years or short-term custody. Inside information and insiders as mentioned above shall be determined in accordance with the relevant laws and administrative regulations. A practitioner of any stock exchange, futures exchange, securities company, futures brokerage company, fund management company, commercial bank, insurance company or any other financial institution, or an employee of the relevant regulatory department or industry association who, in violation of the relevant regulations, by using undisclosed information other than inside information which the offender has learned by virtue of his position, engages in securities or futures transactions involving the said information, or explicitly or implicitly advises another person to engage in the relevant transaction activities, where the circumstances are serious, shall be punished in accordance with the provisions in the first paragraph. en.npc.gov.cn.cdurl.cn/2020-12/26/c_921604_10.htm 5/17