Securities chief vows to 'capture' manipulators

China's top securities watchdog vowed on Friday to "capture big crocodiles" in the country's stock market, suggesting that a tougher regulatory stance against stock speculation and manipulation will be a priority for the regulator.

In a highly anticipated speech at the regulator's annual work meeting, Liu Shiyu, chairman of the China Securities Regulatory Commission, implied that the "big crocodiles" were tycoons who wield capital power to manipulate stock prices and disrupt fair market play.

"No one will be allowed to create winds and waves in the stock market. The big crocodiles will not be allowed to suck the blood of small investors," Liu was quoted by Chinese media outlets Caixin and Sina.com as saying.