On December 28, the Supreme People's Procuratorate held a press conference with the theme of "giving full play to the role of procuratorial functions and serving in accordance with the law to ensure the high-quality development of finance". At the press conference, Zhang Xiaojin, director of the Fourth Procuratorate of the Supreme People's Procuratorate, revealed that in 2023, the national procuratorate will further strengthen the crackdown on ** crimes, focusing on financial fraud, market manipulation, and insider trading cases with significant social influence, such as Zhangzidao. According to statistics, the number of people prosecuted by procuratorial organs nationwide reached 316, a year-on-year increase of 117%。According to a number of ** reports, the press conference also detailed the handling process of the "Zhangzidao" case of illegal disclosure of important information. Zhangzidao has attracted much attention from the market due to the repeated "disappearance" of scallops.
It is worth noting that the news that Wu Hougang, the former chairman of Zhangzidao, was sentenced to 15 years in prison has aroused widespread resonance and satisfaction. Looking back on the past, Zhangzidao's "runaway scallops" incident is like a recurring drama, and it is puzzling that even in the case of the company's financial doubts, its stock price can still be sharply ** from time to time, which undoubtedly makes people feel speechless and confused. However, as the saying goes, "everything has a cause and effect, and the chaos must be repaid after all". After being punished by the CSRC, Wu Hougang still showed extreme arrogance, and even published a 10,000-word complaint, asking the CSRC to revoke his punishment, and claiming that there is no clear research answer to the problem of scallop farming deaths in the world, implying that the regulator cannot effectively restrain his behavior.
Zhangzidao's conviction for illegal disclosure of important information has had a strong deterrent effect on major shareholders. This is very important for the healthy development of the A** market, and only by severely punishing illegal acts can we create a fair and just investment environment for investors. Shareholders who have been "deceived" by Zhangzidao now have the opportunity to recover their losses through litigation, which also highlights the importance of improving the domestic class action system to better protect the rights and interests of investors.
At present, anti-corruption and cracking down on financial fraud have become the focus of attention from all walks of life. The Supreme People's Procuratorate proposed to serve and ensure the high-quality development of finance, which complements the previously proposed goal of building a financial power. The recent surge may indicate that the market has bottomed out, and it is expected to gradually enter the upward channel after grinding the bottom, especially the investment opportunities of high-quality companies will be more prominent.
In general, strengthening financial supervision, cracking down on illegal activities, and improving investor protection mechanisms are the keys to promoting the healthy development of financial markets. With the gradual implementation of relevant policies and the restoration of market confidence, we have reason to expect that the A** field will usher in a brighter future.
The former chairman of Zhangzijima was sentenced to 15 years