Previously, five provinces including Jiangsu, Zhejiang and Henan were implemented in April; 11 provinces including the three northeastern provinces, Chongqing, and Hebei were fully implemented on May 1; and the remaining seven provinces and cities including Anhui, Fujian, and Shanghai will also be implemented in May. Implementation on the ground.

The Criminal Law Amendment (11) (hereinafter referred to as the Amendment) was reviewed and passed, filling the shortcomings of the system, and the securities law resonated with the criminal law. A shares will usher in the era of "dual law in one". The amendments significantly increase the penalties for fraudulent issuance, information disclosure falsification and other crimes, and strengthen the criminal responsibility of “key minorities” such as controlling shareholders and actual controllers. In addition, it also clearly sets sponsors as providing false certifications The criminal subject of the crime of document crimes and the crime of major misrepresentation of documents issued shall be investigated for criminal responsibility for this crime. The "Daily Business News" reporter interviewed a number of economists, secretaries of listed companies, intermediary agencies, and lawyers. They pointed out that the amendments superimposed on the new "Securities Law" will put a heavy emphasis on fraudulent activities in the capital market and greatly deter potential violations. By. 　　 The reporter interviewed a number of interviewees and learned that the amendment involves criminal prosecutions for violations in the capital market. Then this requires a prosecution standard. Which type of information disclosure fraud should be penalized? What kind of behavior is a very serious form of false disclosure? 　　 On December 26, the official website of the China Securities Regulatory Commission also stated that in the next step, it will take the opportunity to implement the Criminal Law Amendment (11) as an opportunity to accelerate the revision and improvement of criminal prosecution standards. Unlimited personal fines for fraud 　　 On December 26, the Twenty-Fourth Meeting of the 13th National People's Congress passed the Criminal Law Amendment (11), which will be officially implemented on March 1, 2021. 　　 This amendment has triggered a enthusiastic response from the capital market, and several key points have attracted attention. 　　 First, the amount of penalties for violations of laws and regulations has been greatly increased, and personal fines are even unlimited. For example, the personal penalty for fraudulent issuance was changed from 1% to 5% of illegally raised funds to "combined penalty", the 5% upper limit was removed, and the penalty for units was increased from 1% to 5% of illegally raised funds to 20%~ 1 times; the amount of fines for the responsible person was revised from 20,000 to 200,000 yuan to "combined fines" for information disclosure fraud, and the upper limit of 200,000 yuan was cancelled; 　　 The second is that market entities are penalized for fraud, with an upper limit of up to 10 years, and it also covers intermediary agencies such as lawyers, accountants, and sponsors. The amendment raises the upper limit of the sentence for persons responsible for information disclosure and falsification from 3 years to 10 years. In situations where lawyers, accountants, and other intermediary agencies issue false certification documents in securities issuance or major asset trading activities, and the circumstances are particularly serious, a higher sentence is clearly applicable, and the maximum sentence is 10 years in prison. 　　 Again, it is to strengthen the criminal accountability of the "critical minority" of listed companies. The controlling shareholder, actual controller organization, instigation of fraudulent issuance, information disclosure falsification, and the controlling shareholder and actual controller concealing related matters leading to the company's disclosure of false information, etc. are included in the scope of criminal laws and regulations. 　　 Finally, it is to further clarify the criminal responsibility for new market manipulations such as "fraud trading manipulation", "deceitful transaction manipulation", and "capture manipulation". 　　 The "Daily Business News" reporter interviewed a number of economists, secretaries of listed companies, intermediaries, and lawyers. They stated that the amendment is of great significance to maintaining market order, advancing the reform of the registration system, and ensuring the stable and healthy development of the capital market. 　　In fact, this is the system construction of "top-level design". Following the implementation of the new "Securities Law", the penalty of fraud will correct the low cost of illegal capital market violations in the past. In the eyes of many securities lawyers, the amendments to the criminal law are parallel to the new Securities Law, and A shares will also be escorted by the "dual law in one". "From the previous situation, the amendment to the Securities Law has become a sharp sword, and this amendment can be said to be a'shangfang sword'." A listed company secretary said that IPO fraud will be effectively curbed. . Economist Song Qinghui believes that the amendment is a boost to the healthy development

On May 12, Li Yongguang, deputy secretary of the Shouguang Municipal Party Committee of Shandong Province, led relevant personnel from the Municipal Party Committee and Municipal Government to Shanghai Yan'an Pharmaceutical Group for guidance and witnessed the signing of a strategic cooperation agreement between Shandong Fukang Pharmaceutical Group and Shanghai Yan'an Pharmaceutical Group.