The penalty for the crime of manipulating the futures market is fixed-term imprisonment of not more than five years or criminal detention, with or without a fine. The crime of manipulating the price of securities and futures trading belongs to the crime of circumstances. If the actor's manipulation behavior does not reach "serious circumstances", only the corresponding administrative liability or civil liability shall be investigated.

legal ground

Article 182 of the Criminal Code of People's Republic of China (PRC).

Under any of the following circumstances, whoever manipulates the trading price of securities and futures to gain illegitimate interests or transfer risks, if the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also, or shall only, be fined not less than one time but not more than five times the illegal income:

(a) alone or in collusion with each other, concentrate capital advantages, hold shares or positions, or use information advantages to jointly or continuously buy and sell, and manipulate the trading prices of securities and futures;

(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.