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o pledges stricter administrative punishments. For instance, if a firm indulges in fraudulent public offerings, and does not issue the securities, it would face fines of between 2 million yuan (around 280,000 U.S. dollars) and 20 million yuan. This contrasts with the previous standard between 300,000 yuan and 600,000 yuan. Individuals responsible for fraudulent offerings will face much higher punishments of between 1 million yuan and 10 million yuan, according to the latest revision. Those under investigation will face a longer suspension term for securities trading, while

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serious law violators will be banned from market entry for a specified period. "The revised Securities Law provides an important legal framework for China's capital market and it will facilitate the capital market reform to advance in a legal-based and market-oriented manner," said Fu Lichun, a senior researcher of the Northeast Securities.Some participating in Silicon Valley conference suggest forming plan The United Sta

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