Economic Daily: Fight False Information in the Stock Market According to Law

The Economic Daily article stated that new guiding opinions have been introduced to combat the spread of "small essay" rumors in the capital market. The Supreme People's Court and the China Securities Regulatory Commission recently jointly issued the "Guiding Opinions on Strict and Just Law Enforcement and Judicial Services to Ensure the High-Quality Development of the Capital Market," which clearly aims to crack down on illegal activities that disrupt the normal operation of the market and disturb the order of the capital market, such as disseminating false information, supporting "rights protection black industries," and engaging in unfair competition in the issuance and listing process. The new guiding opinions increase the cost of breaking the law for rumor mongers. In addition to supporting civil litigation by victims to seek damages, those who commit crimes will also be held criminally responsible in accordance with the law. If victims of the dissemination of false information through "small essays" bring civil lawsuits to claim damages that harm market order and the rights of others, the people's courts will support them in accordance with the law; if a crime is committed, criminal liability will be pursued in accordance with the law. This will create a strong deterrent against the fabrication and dissemination of false information. It is a reminder to those who maliciously spread "small essay" rumors that the internet is not a lawless place. The act of fabricating and spreading rumors not only disturbs the capital market but also disrupts social order, and will ultimately be severely punished by the law.