2024/9/2 凌晨12:25 Criminal Law of the People's Republic of China Article 181 Whoever fabricates and spreads false information that affects securities or futures transactions, thereby disrupting the securities or futures market and causing serious consequences, 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 RMB 10,000 yuan but not more than RMB 100,000 yuan, or shall be sentenced to a fine on the said scale only. A practitioner of a stock exchange, futures exchange, securities company, or futures brokerage company, or an employee of the securities industry association, the futures industry association or the relevant securities and futures regulatory department who deliberately provides false information, or forges, alters or destroys transaction records in order to induce investors to buy or sell securities or futures contracts, thereby causing serious consequences, 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 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 circumstances are extremely grave, 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 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 sentenced to fixed-term imprisonment of not more than 5 years or short-term custody. Article 182 Whoever manipulates the securities or futures market, thereby affecting the prices or quantities of securities or futures transactions by the following means, where the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than 5 years or short-term custody, and concurrently, a fine, or shall be sentenced to a fine 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, and concurrently, a fine: (1) carrying out combined or successive purchases or sales independently or in collusion with other persons by building up an advantage in terms of funds, shareholding, position, or information; (2) colluding with other persons to trade securities or futures at preconcerted time and price through preconcerted method; (3) trading securities between accounts actually controlled by himself, or trading futures contracts with himself as the counterpart; (4) placing and withdrawing orders of securities or futures contracts frequently or in a large volume without the intent of filling the order; (5) inducing investors to conduct securities or futures trading using false or uncertain material information; (6) making public evaluations, forecasts or investment recommendations on certain securities or issuers, or certain underlying assets, while making reverse securities or futures trading; or (7) using other means to manipulate the securities or futures markets. en.npc.gov.cn.cdurl.cn/2020-12/26/c_921604_10.htm 6/17