China securities regulator imposes record fines in 2018

BEIJING -- China's securities watchdog toughened punishment on illegal market activities last year amid strengthened supervision, with total fines and administrative penalties reaching a three-year high.

A total of 10.641 billion yuan ($1.59 billion) of fines and confiscations were issued by the China Securities Regulatory Commission (CSRC) in 2018, up 42.28 percent year on year, Yan Qingmin, vice chairman of the CSRC, said at a meeting.

The regulator handed out a combined 310 administrative penalties last year, up 38.39 percent, according to Yan.

The regulator has vowed to continue its tough stance against all violations to better serve the real economy.