Legal basis: Article 182 of the Criminal Law of People's Republic of China (PRC) has one of the following circumstances: manipulating the trading price of securities and futures, gaining illegitimate interests or transferring risks, and if the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be fined not less than one time but not more than five times the illegal income: (1) concentrating capital advantages, holding shares or positions, or using information advantages to jointly or continuously buy and sell securities, and manipulating securities. (2) colluding with others, trading securities and futures with each other at the time, price and manner agreed in advance, or buying and selling securities that are not held with each other, which affects the trading price or trading volume of securities and futures; (3) buying and selling securities or buying and selling futures contracts without transferring the ownership of securities, which affects the trading price or volume of securities and futures; (4) manipulating the trading prices of securities and futures by other means.