Legal analysis: Characteristics of the crime of manipulating the securities and futures markets: 1. The subjective aspect of the crime. The subjective aspect of the crime is intentional, and the purpose is to obtain improper benefits or transfer risks; 2. The subject of the crime , the subject of this crime is a general subject. Any natural person who has reached the age of criminal responsibility and has the ability to be criminally responsible can become the subject of this crime; units can also become the subject of this crime; etc.

Legal basis: Article 182 of the "Criminal Law of the People's Republic of China": Manipulation of securities and futures markets, affecting securities and futures trading prices or securities and futures transactions under any of the following circumstances: If the circumstances are serious and the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and concurrently or solely with a fine; if the circumstances are particularly serious, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than 10 years, and shall also be fined:

(1) ) Individually or in collusion, concentrating capital advantages, shareholding or position advantages, or taking advantage of information advantages to jointly or continuously trade;

(2) Colluding with others to trade securities with each other at a pre-agreed time, price and method , futures trading;

(3) Conducting securities transactions between accounts actually controlled by oneself, or using oneself as the trading object, buying and selling futures contracts by oneself;

( 4) Frequently or in large quantities making declarations to buy or sell securities or futures contracts without the purpose of completing transactions and canceling the declarations;

(5) Using false or uncertain material information to induce investors to engage in securities transactions , futures trading;

(6) Making public evaluations, predictions or investment suggestions on securities, securities issuers, and futures trading targets, and at the same time conducting reverse securities trading or related futures trading;

(7) Using other methods to manipulate the securities and futures markets.

If a unit commits the crime in the preceding paragraph, the unit shall be fined, and the person directly in charge and other directly responsible personnel shall be punished in accordance with the provisions of the preceding paragraph.