The Shanghai Stock Exchange said yesterday it had uncovered 147 'abnormal transactions' in the first quarter, a sign the market is reinforcing house-cleaning measures.
The report coincides with an increase in the number of alleged fraud and insider trading cases being prosecuted by the mainland securities regulators in recent weeks.
Some of the deals led to formal investigations of stock manipulation and insider trading, the report said without giving details. It added that four companies had been censured for faulty disclosure practices and other minor irregularities.
It was the first time the bourse had issued a quarterly review of its efforts to discipline the market. Previously, it had produced an annual report.
About 60 per cent of listed companies, including the biggest firms, are on the Shanghai exchange. Last year, it reported 506 abnormal transaction cases with 50 investigated by the China Securities Regulatory Commission.
'The adoption of the quarterly format is intended to boost the transparency and efficiency of regulation,' said Zheng Wei, the chairman of NuWorld Investment, a mainland-based investor relations firm.
