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The State Administration for Market Regulation issued the Interim Provisions on Anti-Unfair Competition on the Internet, which regulates acts such as order speculation, cash back from positive reviews, illegal data acquisition, and malicious incompatibility

author:Express ecosystem Zhao Xiaomin

Prompt! The main target groups of the express ecosystem: (investors, private equity funds, brokerage institutions, local government decision-makers, express regulatory departments, express operators, media practitioners, express upstream and downstream operators, franchise network owners, express logistics practitioners with an annual salary of more than 300,000 yuan)

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|Information from the State Administration for Market Regulation

| Express Ecosystem Information Group

The State Administration for Market Regulation issued the Interim Provisions on Anti-Unfair Competition on the Internet, which regulates acts such as order speculation, cash back from positive reviews, illegal data acquisition, and malicious incompatibility

In order to prevent and stop unfair competition online, maintain the market order of fair competition, encourage innovation, protect the legitimate rights and interests of business operators and consumers, and promote the healthy and sustainable development of the digital economy, the State Administration for Market Regulation recently issued the "Interim Provisions on Online Anti-Unfair Competition" (hereinafter referred to as the "Provisions").

The State Administration for Market Regulation issued the Interim Provisions on Anti-Unfair Competition on the Internet, which regulates acts such as order speculation, cash back from positive reviews, illegal data acquisition, and malicious incompatibility

The "Provisions" have the following characteristics: First, insist on encouraging innovation. Protect the innovation achievements of enterprises, and strive to promote the Internet industry to maximize its innovation potential. Second, efforts should be made to regulate competition. Comply with the new characteristics, trends, and requirements of the development of the mainland's digital economy, and improve the standards and regulatory requirements for the designation of all types of online acts of unfair competition. It clarifies the new manifestations of traditional unfair competition behaviors such as counterfeiting, confusion, and false propaganda in the online environment, and lists new types of online unfair competition behaviors such as reverse order brushing and illegal data acquisition. and set up catch-all clauses to provide a regulatory basis for new problems and new behaviors that may arise. The third is to strengthen the protection of consumer rights and interests. In response to social concerns, it regulates key issues such as swiping orders and speculation, praise and cashback, and affecting user choices in online consumption in mainland China, so as to provide policy support for solving the new problems of new scenarios and new business formats of online consumption. Fourth, strengthen the responsibility of the platform. Urge platforms to strengthen the regulation and management of competitive conduct within the platform, and at the same time regulate issues such as the abuse of data algorithms to gain competitive advantages. Fifth, optimize law enforcement and case handling. Special provisions are made on supervision and inspection procedures in view of the characteristics of online acts of unfair competition, such as their wide coverage, cross-platform, and cross-regional. Establish an expert observer system to provide intellectual support and technical support for solving key problems. Sixth, clarify legal responsibilities. Give full play to the role of laws and regulations in the field of market regulation, and effectively connect with laws such as the Anti-Unfair Competition Law, the E-Commerce Law, the Anti-Monopoly Law, and the Administrative Punishment Law. At the same time, the legal responsibility for confiscation of illegal gains is clarified, and the effect of supervision is strengthened.

The State Administration for Market Regulation issued the Interim Provisions on Anti-Unfair Competition on the Internet, which regulates acts such as order speculation, cash back from positive reviews, illegal data acquisition, and malicious incompatibility

The Provisions will come into force on September 1, 2024. The State Administration for Market Regulation will strengthen the training and guidance of local market regulation departments, strive to do a good job in regulating and investigating online unfair competition, effectively safeguard the legitimate rights and interests of business operators and consumers, promote orderly competition and innovative development of all types of business entities, and promote the high-quality development of the digital economy with high-quality and efficient anti-unfair competition supervision and law enforcement.

The State Administration for Market Regulation issued the Interim Provisions on Anti-Unfair Competition on the Internet, which regulates acts such as order speculation, cash back from positive reviews, illegal data acquisition, and malicious incompatibility

Interim Provisions on Online Anti-Unfair Competition

(Decree No. 91 of the State Administration for Market Regulation on May 6, 2024, effective as of September 1, 2024)

Chapter I: General Provisions

Article 1: These Provisions are drafted on the basis of the "People's Republic of China Law Against Unfair Competition" (hereinafter "Anti-Unfair Competition Law"), the "People's Republic of China E-Commerce Law" (hereinafter "E-Commerce Law"), and other laws and administrative regulations, so as to prevent and stop acts of unfair competition online, to preserve the market order of fair competition, to encourage innovation, to protect the lawful rights and interests of business operators and consumers, and to promote the sustained and healthy development of the digital economy.

Article 2 Encourage and support business operators to carry out business activities in accordance with the law and participate in market competition fairly. Business operators engaging in production and business activities through the Internet and other information networks (hereinafter referred to as networks) shall follow the principles of voluntariness, equality, fairness, and good faith, abide by laws, regulations, and rules, and abide by commercial ethics.

Business operators must not carry out acts of unfair competition online, disrupt the order of market competition, impact fair market transactions, or harm the lawful rights and interests of other business operators or consumers.

Article 3: The State Administration for Market Regulation is responsible for overseeing and guiding the nation's efforts to counter online unfair competition, and organizing the investigation and handling of cases of online unfair competition that have a major impact nationwide.

Local departments for market regulation at the county level or above are to investigate and handle acts of unfair online competition in accordance with law.

In the course of investigating and handling illegal conduct, the departments for market regulation shall persist in administering in accordance with law, ensuring strict, standardized, fair, and civilized law enforcement.

Article 4: The departments for market regulation shall, in conjunction with each member unit of the coordination mechanism for efforts to counter unfair competition, implement major online policies and measures to counter unfair competition, research major issues in efforts to counter unfair competition online, jointly investigate and handle major cases, and coordinate efforts to advance comprehensive governance.

Each member unit of the coordination mechanism for efforts to counter unfair competition shall, in accordance with their duties and division of labor, strengthen the management of industries such as finance, media, and telecommunications in accordance with law, and employ effective measures to prevent and stop acts of unfair competition online.

Article 5: The state encourages, supports, and protects all organizations and individuals to conduct societal oversight of acts of unfair competition online. All units and individuals have the right to report suspected acts of unfair online competition to the departments for market regulation in accordance with law, and the departments for market regulation shall promptly handle the reports after receiving them.

Industry organizations shall strengthen industry self-discipline, guiding and regulating members' competition in accordance with law.

Article 6: Platform operators shall strengthen the regulation and management of competitive conduct on the platform, and where it is discovered that business operators on the platform have adopted unfair competition methods, illegally sold goods or provided services, or infringed upon the lawful rights and interests of consumers, they shall promptly employ necessary measures to address it, preserve relevant records, and report it to the market regulation department at the county level or above for the platform operator's domicile as required. The record retention period shall be calculated from the date on which the disposition measures are taken, and shall not be less than three years.

Chapter II: Acts of Unfair Competition Online

Article 7: Business operators must not use the internet to carry out the following confusing conduct, leading people to mistakenly believe that they are the goods of others ("goods" as used in these Provisions includes services) or that they have a specific connection with others:

(1) Unauthorized use of logos that are identical or similar to the main body of a domain name, website name, web page, and so forth that have a certain degree of influence on others;

(2) Unauthorized use of others' influential trade names, enterprise names (including abbreviations, trade names, etc.), names of social organizations (including abbreviations, etc.), and names (including pen names, stage names, translated names, and so forth) as identifiers for the main body of domain names;

(3) Unauthorized use of logos that are identical or similar to the page design, name, icon, shape, and so forth of application software, online stores, clients, mini programs, official accounts, game interfaces, and so forth, where others have a certain degree of influence;

(4) Unauthorized use of other people's network names, network symbols, network abbreviations, and other such markings that have a certain degree of influence;

(5) Producing or selling goods that are sufficient to lead people into mistakenly believing that they are the goods of others or that there is a specific connection with others;

(6) Jointly carrying out confusing conduct with other business operators by providing facilitation such as online business venues;

(7) Other confusing conduct carried out using the network that is sufficient to lead people to mistakenly believe that it is someone else's goods or that there is a specific connection with others.

Unauthorized setting of another person's influential commercial logo as a search keyword, which is sufficient to lead people to mistakenly believe that it is another person's goods or that there is a specific connection with others, is the confusing conduct provided for in the preceding paragraph.

Article 8: Proprietors must not employ the following methods to make false or misleading commercial propaganda about commodity production and business entities, as well as the performance, function, quality, source, honors, qualifications, and so forth, to deceive or mislead consumers or the relevant public:

(1) Displaying, demonstrating, explaining, explaining, promoting, or textually annotating through websites, clients, mini programs, official accounts, and so forth;

(2) Carrying out commercial marketing activities through methods such as live broadcasts, platform recommendations, and online copywriting;

(3) Carrying out commercial marketing activities through methods such as hot searches, hot reviews, hot transfers, and lists;

(4) Other false or misleading commercial promotions.

Business operators must not assist other business operators in carrying out false or misleading commercial publicity conduct in the preceding paragraph.

Article 9: Proprietors must not carry out the following conduct to make false or misleading commercial propaganda about commodity production and business entities, as well as commodity sales status, transaction information, business data, user evaluations, and so forth, to deceive or mislead consumers or the relevant public:

(1) False transactions or false rankings;

(2) Fabricating data and information related to operations, such as transaction volume, transaction volume, and reservation volume;

(3) Using methods such as false claims of spots, fictitious reservations, or false panic purchases to conduct marketing;

(4) Fabricating user reviews, or using methods such as misleading displays to conceal negative reviews, putting positive reviews in front and negative reviews in the back, or evaluations that do not significantly distinguish between different products, and so forth;

(5) Using methods such as cashbacks, red envelopes, or coupons to induce users to make interactive conduct such as designated praises, likes, or targeted voting;

(6) Fictitious traffic data such as favorites, clicks, followers, likes, reads, subscriptions, and forwards;

(7) Fabricating interactive data such as the number of votes, listens, views, broadcasts, box office, and ratings;

(8) Fictitious education and training effects such as admission rates, examination pass rates, and employment rates;

(9) Using methods such as falsifying word-of-mouth, concocting topics, creating false public opinion hotspots, or fabricating the income of online employees to conduct marketing;

(10) Other false or misleading commercial publicity conduct.

Business operators must not assist other business operators in carrying out false or misleading commercial publicity conduct in the preceding paragraph through methods such as organizing false transactions or organizing false rankings.

Article 10: Business operators must not use property or other means to bribe platform staff, units or individuals that have an impact on transactions, in order to seek trading opportunities or competitive advantages in areas such as traffic, rankings, and posting services.

"Property" as used in the preceding paragraph includes cash, items, online virtual property, gift certificates, funds, shares, debt forgiveness, and other property rights and interests.

Article 11: Business operators must not use the network to fabricate or disseminate false or misleading information, and carry out the following conduct that harms or might harm competitors' commercial reputation or the reputation of their products:

(1) Organizing or instigating others to maliciously evaluate competitors' goods;

(2) Exploiting, organizing, or instigating others to disseminate false or misleading information through the internet;

(3) Using networks to disseminate risk warnings, letters of notice to customers, warning letters, or report letters that contain false or misleading information;

(4) Other acts of fabricating or disseminating false or misleading information, harming the commercial reputation of competitors or the reputation of goods.

Clients, Mini Programs, and Official Account operators, as well as organizations or individuals that provide post comment services, must not intentionally carry out the conduct in the preceding paragraph with business operators.

The term "commercial reputation" as used in this article refers to the credit and reputation of a business operator in commercial activities, including the relevant public's evaluation of the business operator's credit status, business ethics, technical level, economic strength, and other aspects.

The reputation of the product as used in this article refers to the reputation and popularity of the product in terms of quality and brand.

Article 12: Business operators must not use the internet, big data, algorithms, or other technical means to carry out conduct such as traffic hijacking, interference, or malicious incompatibility, through influencing user choices or other means, to obstruct or undermine the normal operation of network products or services lawfully provided by other business operators.

"Influencing the user's choice" as used in the preceding paragraph includes going against the user's will and right to choose, increasing the complexity of operations, and undermining the consistency of use.

In determining whether an act of unfair competition as provided for in the first paragraph is constituted, factors such as whether it is conducive to technological innovation and industry development shall be fully considered.

Article 13: Without the consent of other business operators, business operators must not use technical means to carry out the following conduct such as inserting links or forcing target jumps, obstructing or disrupting the normal operation of network products or services lawfully provided by other business operators:

(1) Inserting jump links or embedding one's own or others' products or services in network products or services lawfully provided by other business operators;

(2) Using methods such as keyword associations or setting up false operation options to set up links to their own products or services to deceive or mislead users into clicking;

(3) Other acts of inserting links or forcing target jumps.

Article 14: Business operators must not use technical means to mislead, deceive, or compel users to modify, close, or uninstall network products or services such as equipment, functions, or other programs lawfully provided by other business operators.

Article 15: Business operators must not use technical means to maliciously carry out incompatibility with network products or services lawfully provided by other business operators.

The following factors may be comprehensively considered in determining whether business operators maliciously carry out incompatibility with network products or services lawfully provided by other business operators:

(1) Whether they knew or should have known that the incompatible conduct would obstruct or disrupt the normal operation of network products or services lawfully provided by other business operators;

(2) Whether the incompatible conduct impacts the normal operation of network products or services lawfully provided by other business operators, and whether it impacts the openness and sharing of the online ecosystem;

(3) Whether the incompatible conduct is targeted at a specific target, and whether it violates the principles of fairness, reasonableness, and non-discrimination;

(4) The impact of the incompatible conduct on the lawful rights and interests of consumers, third-party operators using the network products or services, and the societal public interest;

(5) Whether the incompatible conduct conforms to industry practices, practice norms, self-discipline conventions, and so forth;

(6) Whether the incompatible conduct led to an unreasonable increase in the cost of network products or services lawfully provided by other business operators;

(7) Whether there is a legitimate reason.

Article 16: Business operators must not use technical means to directly, organize, or use third parties to carry out the following conduct, obstructing or disrupting the normal operation of network products or services lawfully provided by other business operators:

(1) Intentionally engaging in large-scale, high-frequency transactions with other business operators in a short period of time, or giving positive reviews, so that other business operators are subject to dispositions such as demotion of search rights, lowering credit ratings, removing products from the shelves, disconnecting links, or stopping services;

(2) Maliciously auctioning goods in batches in a short period of time and not paying;

(3) Returning goods or refusing to receive goods after maliciously purchasing in bulk.

Article 17: Business operators must not target specific business operators by intercepting or blocking the information content and pages they lawfully provide, obstructing or disrupting the normal operation of network products or services lawfully provided by other business operators, or disrupting the order of fair market competition. Except for blocking or blocking illegal information, frequently popping up information that interferes with the normal use of users, and floating windows that do not provide a way to close.

Article 18: Business operators must not use technical means to interfere with normal transactions between other business operators, obstruct or undermine the normal operation of network products or services lawfully provided by other business operators, or disrupt the order of fair market competition through methods such as influencing user selection, limiting traffic, blocking, reducing search rights, or removing goods from the shelves.

Business operators must not use technical means to influence other business operators' business choices, obstruct or undermine the normal operation of network products or services lawfully provided by trading counterparties, or disrupt the order of fair market transactions by restricting transaction partners, sales areas or times, or participating in promotional and promotional activities.

Article 19: Business operators must not use technical means to illegally obtain or use data lawfully held by other business operators, obstructing or undermining the normal operation of network products or services lawfully provided by other business operators, or disrupting the order of fair market competition.

Article 20: Business operators must not use technical means to unreasonably provide different trading conditions to trading counterparties with the same conditions, infringe on the counterparties' right to choose, fair trade, and so forth, obstruct or undermine the normal operation of network products or services lawfully provided by other business operators, and disrupt the order of fair market transactions.

The following circumstances are not acts of unfair competition as provided for in the preceding paragraph:

(1) Implement different trading conditions based on the actual needs of the trading counterparty and in line with legitimate trading habits and industry practices;

(2) Preferential activities for new users within a reasonable period of time;

(3) Random transactions based on fair, reasonable, and non-discriminatory rules.

Article 21: Business operators must not use technical means to carry out conduct that obstructs or undermines the normal operation of network products or services lawfully provided by other business operators through the following methods:

(1) Downloading, installing, or running applications against the user's will;

(2) Carrying out acts such as intercepting, delaying review, or removing network products or services lawfully provided by other business operators without legitimate reasons, as well as other conduct that interferes with downloading, installing, operating, updating, or disseminating;

(3) Not providing the function of uninstalling non-essential applications on relevant devices, or setting up unreasonable obstacles to the uninstallation of applications;

(4) Without a legitimate reason, carrying out conduct such as reducing search rights, restricting service content, or adjusting the natural ordering of search results for network products or services lawfully provided by other business operators;

(5) Other conduct that obstructs or undermines the normal operation of network products or services lawfully provided by other business operators.

Article 22: Business operators must not violate these Provisions by carrying out other acts of unfair online competition, disrupting the order of market competition, impacting fair market transactions, or harming the lawful rights and interests of other business operators or consumers.

Article 23: Platform operators with competitive advantages must not use technical means to abuse information advantages such as back-end transaction data and traffic, as well as management rules, to obstruct or undermine the normal operation of network products or services lawfully provided by other business operators and disrupt the order of fair market competition through methods such as blocking third-party business information or improperly interfering with the order in which goods are displayed.

Article 24: Platform operators must not use service agreements, transaction rules, or other means to impose unreasonable restrictions or attach unreasonable conditions to on-platform business operators' transactions on the platform, transaction prices, and transactions with other business operators. It mainly includes the following situations:

(1) Compelling on-platform operators to sign exclusive agreements;

(2) Impose unreasonable restrictions on the price of the commodity, the object of sale, the sales area or the time of sale;

(3) Unreasonably setting restrictions such as deducting security deposits, reducing subsidies, preferential treatments, and flow resources;

(4) Using service agreements and transaction rules to impose other unreasonable restrictions or impose unreasonable conditions on the transactions of business operators on the platform.

Article 25: Platform operators shall fairly and reasonably determine the fee standards in service agreements and transaction rules, and must not violate commercial ethics or industry practices by charging unreasonable service fees to operators on the platform.

Article 26: The following factors may be comprehensively considered in determining that it constitutes an obstruction or disruption of the normal operation of network products or services lawfully provided by other business operators:

(1) Whether network products or services lawfully provided by other business operators cannot be used normally;

(2) Whether network products or services lawfully provided by other business operators cannot be properly downloaded, installed, updated, or uninstalled;

(3) Whether the cost of network products or services lawfully provided by other business operators has unreasonably increased;

(4) Whether the number of users or access to network products or services lawfully provided by other business operators has unreasonably decreased;

(5) Whether the user's legitimate interests have suffered losses, or whether the user experience and satisfaction have declined;

(6) The frequency and duration of the conduct;

(7) The geographical scope, time range, and so forth of the impact of the conduct;

(8) Whether other business operators' network products or services are used to seek improper benefits.

Chapter III: Supervision and Inspection

Article 27: The "Provisions on Administrative Punishment Procedures for Market Regulation" apply to jurisdiction over cases of unfair online competition.

Where reports of online acts of unfair competition are relatively concentrated, or cause serious consequences or other negative impacts, the local market regulation department at the districted-city level or above for the actual business operation or the place where the illegal results occurred may have jurisdiction.

Article 28: The departments for market regulation shall strengthen monitoring of online acts of unfair competition, and where illegal conduct is discovered, investigate and handle it in accordance with law.

In the course of investigating and handling cases of online unfair competition, the business operators, interested parties, and other relevant units and individuals under investigation shall truthfully provide relevant materials or circumstances, and must not falsify or destroy the data involved in the case or related materials, must not obstruct the departments for market regulation in performing their duties in accordance with law, and must not refuse or obstruct the investigation.

Article 29: Based on the needs of case handling, the departments for market regulation may retain a third-party professional body to collect and fix electronic evidence related to the case, and conduct an audit of financial data.

Article 30: For new and difficult cases, the departments for market regulation may appoint expert observers to participate in assisting in the investigation. Expert observers may, on the basis of their own professional knowledge, business skills, practical experience, etc., make suggestions on whether the business operator's competitive conduct has legitimate reasons such as promoting innovation, improving efficiency, and protecting the lawful rights and interests of consumers.

Article 31: The departments for market regulation and their staffs, third-party professional bodies, expert observers, and so forth have an obligation to keep confidential the commercial secrets learned of in the course of participating in the investigation.

Where the staff of the departments for market regulation abuse their authority, derelict their duties, twist the law for personal gain, or leak commercial secrets learned during the course of the investigation, they are to be given sanctions in accordance with law.

Chapter IV: Legal Responsibility

Article 32: Where platform operators violate article 6 of these Provisions by failing to store information in accordance with provisions, or failing to employ necessary measures against on-platform business operators' conduct infringing on consumers' lawful rights and interests, the departments for market regulation are to punish them in accordance with articles 80 and 83 of the E-Commerce Law.

Article 33: Where business operators violate article 7 of these Provisions, the departments for market regulation are to punish them in accordance with article 18 of the Anti-Unfair Competition Law.

Article 34: Where business operators violate articles 8 or 9 of these Provisions, the departments for market regulation are to punish them in accordance with article 20 of the Anti-Unfair Competition Law.

Article 35: Where business operators violate article 10 of these Provisions, the departments for market regulation are to punish them in accordance with article 19 of the Anti-Unfair Competition Law.

Article 36: Where business operators violate article 11 of these Provisions, the departments for market regulation are to punish them in accordance with article 23 of the Anti-Unfair Competition Law.

Article 37: Where business operators violate articles 12-23 of these Provisions by obstructing or disrupting the normal operation of network products or services lawfully provided by other business operators, the departments for market regulation are to punish them in accordance with article 24 of the Anti-Unfair Competition Law.

Article 38: Where platform operators violate articles 24 and 25 of these Provisions, the departments for market regulation are to punish them in accordance with article 82 of the E-Commerce Law.

Article 39: Where business operators violate article 28 of these Provisions, the departments for market regulation are to punish them in accordance with article 28 of the Anti-Unfair Competition Law.

Article 40: Where laws and administrative regulations have other provisions on the investigation and handling of acts of online unfair competition, follow those provisions.

Where business operators use the Internet to eliminate or restrict competition, constituting monopolistic conduct, it shall be dealt with in accordance with the "Anti-Monopoly Law of the People's Republic of China".

Article 41: Where business operators violate these Provisions and have unlawful gains, they shall be confiscated in accordance with article 28 of the "Administrative Punishment Law of the People's Republic of China", except where restitution shall be made in accordance with law.

Article 42: Where violations of these Provisions are suspected of constituting a crime, and it is necessary to pursue criminal responsibility in accordance with law, the departments for market regulation shall promptly transfer the case to the public security organs for handling in accordance with relevant provisions.

Chapter V: Supplementary Provisions

Article 43: These Provisions take effect on September 1, 2024.

Express ecosystem

It has been settled on the following platforms

Snowball | Straight flush | Oriental Fortune | Futu |

Weibo | Today's headlines | Zhihu | Tencent

Tik Tok | Xiaohongshu|Kuaishou|Video number|Himalayas

Twitter|ins|YouTube|Station B

Recently, the stock market continues to fluctuate, some criminals illegally make profits, harming the legitimate rights and interests of investors, I will increase the supervision of trading behavior, enrich the means of clue screening, make overall arrangements for special verification, strengthen the "penetrating" transaction monitoring, use multi-dimensional technical means to collect market intelligence, and carry out joint research and judgment with the Ministry of Public Security, and find a number of cases suspected of manipulating the market and malicious shorting.

An illegal gang controlled more than 100 securities accounts to manipulate a certain stock, used continuous pulling, reverse trading and other methods to affect the stock price, and then waited for the opportunity to clear the stock and smash the shipment, resulting in a flash crash and continuous decline in the price of individual stocks, with a total of 2.7 billion yuan sold and an illegal profit of about 130 million yuan.

The actual controller of an investment institution manipulated the prices of more than 20 stocks by suppressing stock prices, absorbing chips at a low level, and continuously pulling up, resulting in rapid fluctuations in the prices of individual stocks, and even extreme markets such as "sky flooring" within a day, from which the transaction illegally profited 140 million yuan.

A certain lawbreaker took advantage of his capital advantage and used hundreds of millions of yuan to frequently make false declarations for many futures products on the futures exchange, creating a false impression of trading, deceiving other investors, and taking the opportunity to sell them for a profit of more than 4,000 yuan.

The China Securities Regulatory Commission (CSRC) insists on responding quickly and resolutely investigating and dealing with illegal acts that affect the stable operation of the stock market and harm the legitimate rights and interests of investors.

Manipulating the market to maliciously short-sell, seriously eroding the people's "money bags", has stood on the opposite side of all stockholders, disrupting the normal rhythm of the healthy and stable operation of the stock market. The China Securities Regulatory Commission will maintain a high-pressure posture of "zero tolerance", resolutely crack down, and let those who dare to illegally manipulate and maliciously short sellers "go bankrupt and sit in prison". In this warning, don't defy the law and take the chestnut from the fire.

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Prompt! The main target groups of the express ecosystem: (investors, private equity funds, brokerage institutions, decision-makers of local governments, express regulatory departments, express logistics operators, media practitioners, upstream and downstream operators of express logistics, owners of franchised outlets, express logistics practitioners with an annual salary of more than 300,000 yuan.

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