1. Is it illegal to speculate on commodities and drive up prices?
Speculation of commodities to drive up prices, in violation of the relevant provisions of the Price Law, will be fined; Serious cases will constitute the crime of illegal business operation and face jail time.
People's Republic of China (PRC) price method
Article 14
Operators shall not have the following unfair price behaviors:
(1) colluding with each other to manipulate market prices and harming the legitimate rights and interests of other business operators or consumers;
(2) In order to crowd out competitors or monopolize the market, dumping at a price lower than the cost, disrupting the normal production and operation order, and harming the interests of the state or the legitimate rights and interests of other operators, in addition to handling fresh goods, seasonal goods and overstocked goods at reduced prices according to law;
(3) fabricating and disseminating information about price increases, driving up prices, and driving up commodity prices too high;
(four) using false or misleading price means to trick consumers or other operators into trading with them;
(5) Providing the same goods or services and discriminating against other business operators on the same trading terms;
(6) buying or selling goods or providing services by raising or lowering the grade, etc., and raising or lowering the price in disguise;
(seven) profiteering in violation of laws and regulations;
(8) Other unfair price behaviors prohibited by laws and administrative regulations.
Second, what crime will be punished for speculating on commodities to drive up prices?
Criminal law of the people's Republic of China
Article 225 Crime of illegal business operation
Whoever, in violation of state regulations, commits one of the following illegal business operations and disrupts the market order, 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; If the circumstances are especially serious, he shall be sentenced to fixed-term imprisonment of not less than five years, and shall also be fined not less than one time but not more than five times for illegal gains or confiscation of property:
(a) operating a franchise or monopoly commodity or other commodities whose operation is restricted by laws and administrative regulations without permission;
(2) buying and selling import and export licenses, import and export certificates of origin and other business licenses or approval documents stipulated by laws and administrative regulations;
(three) without the approval of the relevant competent departments of the state, illegally engaged in securities, futures, insurance business, or illegally engaged in fund payment and settlement business;
(four) other illegal business activities that seriously disrupt the market order.
According to the relevant laws and regulations of our country, speculating in commodities to drive up prices and violating the relevant provisions of the Price Law will be fined; Serious cases will constitute the crime of illegal business operation and face jail time. The above is the relevant answer for you.