CSRC fines firms for illegal trading in shares

The securities regulator on Friday fined a slew of companies and individuals for illegal stock trading and market manipulation, underscoring Beijing's desire to clean up the country's stock market after the recent volatilities.

The China Securities Regulatory Commission fined Hengxin Asset Management Co Ltd in Shandong province 552 million yuan ($86.7 million) for manipulating trading in an exchange-traded fund that tracks the SSE 180 Index.

It is the first market manipulation case involving illegal trading of an ETF fund that the regulator has uncovered and fined, Deng Ge, the CSRC spokesman, told a news conference on Friday.