Legal analysis: As long as it does not violate laws related to online information dissemination, free voluntary stock recommendation services do not pose a problem under existing laws. Individual stock recommenders who charge a fee have already violated the Securities Law, that is, "Individuals without professional qualifications should not engage in securities investment or inquiry business. Their practices are illegal operations. Whether they constitute illegal operation crimes depends on the specific circumstances." The consequences and extent will depend. "And if it is a qualified stock recommender, it may be an illegal operation. In addition to violating the Securities Law, bloggers of paid stock recommendation blogs may also be suspected of insider trading, fabricating and disseminating false information about securities and futures trading, and even manipulating securities and futures trading prices.

Legal basis: Article 225 of the "Criminal Law of the People's Republic of China" The following fixed-term imprisonment or criminal detention, together with or solely a fine of not less than one time but not more than five times the illegal income, shall be imposed; if the circumstances are particularly serious, the sentence shall be not less than five years in prison and concurrently fined not less than one time but not more than five times the illegal income, or property confiscation:

(1) Operating special items or other restricted items as stipulated in laws and administrative regulations without permission;

(2) Buying and selling import and export licenses, import and export origins Certificates and other business licenses or approval documents stipulated in laws and administrative regulations;

(3) Illegal operations of securities, futures, and insurance businesses without approval from relevant national competent authorities, or illegal fund payment and settlement Business;

(4) Other illegal business activities that seriously disrupt market order.