严查过度炒作需做好四方面工作

Core Viewpoint - The China Securities Regulatory Commission (CSRC) emphasizes the need to strengthen trading supervision and information disclosure to maintain market fairness and prevent excessive speculation and market manipulation, particularly in light of the recent positive trends in the A-share market [1][2]. Group 1: Regulatory Focus - The CSRC's reiteration of "seriously investigating excessive speculation" is a targeted response to the increasing market speculation and volatility, especially following the favorable market conditions since September 2024 [2]. - Excessive speculation has been identified as a significant factor contributing to market fluctuations and instability, necessitating a proactive regulatory approach to maintain a stable market environment [2]. Group 2: Implementation Strategies - The CSRC suggests establishing clear quantitative standards for defining "excessive speculation" to minimize subjective enforcement and help investors avoid overly speculative stocks [2][3]. - Regulatory measures should treat new and old stocks equally, ensuring that both are subject to the same scrutiny to uphold fairness in market regulation [3]. - The implementation of effective regulatory measures, such as trading suspensions for stocks involved in excessive speculation and thorough investigations into potential illegal activities, is crucial for enhancing regulatory deterrence [3]. - Distinguishing between excessive speculation and market manipulation is essential, allowing for simultaneous investigations and actions against both types of behavior without conflating them [3].