Tougher move on capital market fraud

BEIJING - As World Consumer Rights Day arrived on Wednesday, China continued its move to crackdown on capital market fraud.

The country's top securities regulator, the China Securities Regulatory Commission, announced last Friday that it would impose the maximum penalty on office service provider China Nine Top and Anshan Heavy Duty Mining Machinery for severe violations of information disclosure rules.

China Nine Top is reported to have inflated its revenue and bank deposits while covering up an assets gap in order to restructure with the listed company Anshan Heavy Duty Mining Machinery.