Securities Supervision Commission and other six departments: strictly punish financial fraud based on the completion of merger and reorganization performance commitments, to facilitate large shareholders to grab huge dividends, to meet the equity incentive call-over conditions, to avoid delisting and other purposes

On July 5th, the "Opinions" proposed to strengthen the crackdown on financial fraud in specific fields. Punish financial fraud carried out by securities issuers and listed companies through false trade methods such as "idling" and "moving orders" according to law. Strictly crack down on financial fraud carried out by means of supply chain finance, commercial factoring, and bill transactions. Strictly punish financial fraud carried out for the purpose of completing merger and acquisition performance commitments, facilitating large shareholders to grab huge dividends, meeting the call-over conditions for equity incentives, and avoiding delisting. Compact private equity venture capital fund managers are diligent and responsible, strengthen due diligence investigation and post-investment management of the financial authenticity of the projects invested by the fund, and prevent fraud.