1, the object is the national securities and futures management system and the legitimate rights and interests of investors;

2. Objectively, it is manifested in manipulating the trading price or trading volume of securities and futures by concentrating capital advantages and holding shares alone or in collusion;

3. The subject is a general subject;

4, the subjective aspect is intentional, and for the purpose of obtaining illegitimate interests or transferring risks.

legal ground

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

Whoever manipulates the securities and futures markets under any of the following circumstances, 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 only be fined; If the circumstances are especially serious, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall also be fined:

(1) Individually or in collusion, concentrating capital advantages, holding shares or positions, or using information advantages to jointly or continuously buy and sell, and manipulating the trading price or trading volume of securities and futures;

(2) colluding with others to trade securities and futures with each other at the time, price and manner agreed in advance, which affects the trading price or volume of securities and futures;

(3) Trading securities between accounts under its actual control, or buying and selling futures contracts on its own, which affects the trading price or volume of securities and futures.

(4) manipulating the securities and futures markets by other means.